Joe's Crab Shack owner files for bankruptcy - WMC Action News 5 - Memphis, Tennessee

Joe's Crab Shack owner files for bankruptcy

(SOURCE: Raycom Media ) (SOURCE: Raycom Media )
MEMPHIS, TN (WMC) -

The owner of Joe's Crab Shack has filed for Chapter 11 bankruptcy over falling sales and plans to sell the company for $50 million.

Ignite Restaurants, which owns the chain, has been closing weaker locations since last year. 

It's unclear how the bankruptcy will impact restaurants. 

There is one location in Memphis off of Germantown Parkway.

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