Joe’s Crab Shack filed bankruptcy and selling off the entire corporation.

According to a court filing on June 6, 2017, the owner of the Joe’s Crab Shack restaurant filed for Chapter 11 bankruptcy. There are plans to sell the company to a private equity firm.

Capitol owner Ignite Restaurant, who also owns the Brick House Tavern and Tap chain, has been eliminating locations and began to pursue a sale of the business.

Ignite filed with the U.S. Bankruptcy Court in Houston a proposal to sell its assets to Kelly Investment Group, a private equity firm.

As many restaurant chains start to “downsize” and file bankruptcy, one must start to wonder what will happen to the stock market. Will this trend continue down the road to destruction or will it turn around.

As President Trump rebuilds America from the ground up. Reports are saying that this will not last long as the economy rebounds in the next few years.

Categories: News

Tags: economy, financial, News