General Category > Economy/Business

Owner of Joe's Crab Shack chain files for bankruptcy

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ABX:

--- Quote ---The owner of the Joe's Crab Shack casual dining chain filed for Chapter 11 bankruptcy on Tuesday amid falling sales, and plans to sell the company for at least $50 million to a private equity firm, according to a court filing.

Ignite Restaurant, which also owns the Brick House Tavern + Tap chain, has been closing weaker locations and began to pursue a sale of the business last year, according to court documents....

http://www.cnbc.com/2017/06/06/joes-crab-shack-owner-ignite-files-for-bankruptcy.html



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IsailedawayfromFR:
Guess the YMCA dance gig by men cavorting as the Village People just did not go over all that well after all with normal people.

Smokin Joe:

--- Quote from: IsailedawayfromFR on June 08, 2017, 01:18:45 am ---Guess the YMCA dance gig by men cavorting as the Village People just did not go over all that well after all with normal people.

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Wrong kind of crabs....who'd want some dungeon-a$$ed crab after that ad?

Frank Cannon:
Owner of Joe's Crab Shack chain files for bankruptcy

On the bright side Joe's Herpes Hut is doing a brisk business.

Applewood:
Selling to a private equity firm?  Like Bain Capital?

Doesn't sound good for the chains' employees.

Used to like Joe's, but the menu changed and now, something is off.  I guess teetering on the verge of bankruptcy will do it. 

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