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Joe's Crab Shack

Joe's Crab Shack closures top 40

The casual chain has quietly been cut by more than a third as it awaits a change in ownership.

Operations

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The reported offer tops an already-inked purchase deal by almost 10%, and comes days after the Landry's owner bought 50% of Catch.

Parent Ignite Restaurant Group has been struggling to regain financial footing with the chain

Beach-theme seafood chain specializing in a variety of crab and other shellfish dishes

The seafood menu category continues to slowly sink, having declined 0.8% in sales to $5.3 billion and 2.1% in unit counts to 1,377 in 2016 from the prior year.

After speculation that it would do so, the parent company of Joe’s Crab Shack and Brick House Tavern + Tap is seeking Chapter 11 bankruptcy protection.

An ebbing tide lowers all boats, as most restaurant operations can attest at the moment. Then there are the situations more akin to a shipwreck. Here are some high-profile chains that are still struggling mightily to right themselves.

The filing could come as early as next week, according to one report.

Parent company Ignite Restaurant Group said it is looking for a buyer for the whole company or one of the chains.

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