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Author Topic: Owner of Joe's Crab Shack chain files for bankruptcy  (Read 1206 times)

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Offline ABX

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Owner of Joe's Crab Shack chain files for bankruptcy
« on: June 07, 2017, 09:10:36 pm »
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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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Offline IsailedawayfromFR

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Re: Owner of Joe's Crab Shack chain files for bankruptcy
« Reply #1 on: June 07, 2017, 09:18:45 pm »
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.
« Last Edit: June 07, 2017, 09:20:38 pm by IsailedawayfromFR »
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Offline Smokin Joe

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Re: Owner of Joe's Crab Shack chain files for bankruptcy
« Reply #2 on: June 07, 2017, 11:21:37 pm »
Quote from: IsailedawayfromFR on June 07, 2017, 09:18:45 pm
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.
Wrong kind of crabs....who'd want some dungeon-a$$ed crab after that ad?
« Last Edit: June 07, 2017, 11:22:35 pm by Smokin Joe »
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Offline Frank Cannon

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Re: Owner of Joe's Crab Shack chain files for bankruptcy
« Reply #3 on: June 07, 2017, 11:23:51 pm »
Owner of Joe's Crab Shack chain files for bankruptcy

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

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Re: Owner of Joe's Crab Shack chain files for bankruptcy
« Reply #4 on: June 08, 2017, 09:00:56 pm »
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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