Joe’s Crab Shack Files For Bankruptcy, Assets To Be Sold Off
Sad news for seafood lovers, Joe’s Crab Shack is reportedly filing for bankruptcy reports Consumerist.
Ignite Restaurant Group announced in a press statement that it is agreeing with Kelly Companies to sell Joe’s Crab Shack and Brick House Tavern + Tap Brands.
All of Ignite’s subsidiaries, Joe’s Crab Shack included, filed voluntary petitions for reorganization under Chapter 11. This means that Joe’s will have 60 to 90 days to sell their assets.
A silver lining for Joe’s Crab Shack fans during this troublesome time, all 112 locations of Joe’s Crab Shack will remain open during the sales process. In this period, the seafood restaurant chain will still accept gift cards and coupons. If you’ve got em, make sure to spend them as soon as possible.
