Florida J&D Restaurant Holdings Files Chapter 11 As Casual Dining Loses Customers To Bad Economy

September 26, 2008 11:12 a.m. EST

Palm Beach Gardens, FL (AHN) - Palm Beach Gardens-based J&D Restaurant Holdings has filed for Chapter 11 bankruptcy protection, about a year after acquiring bankrupt R.J. Gator's Florida Sea Grill and Bar.

J&D had reportedly purchased R.J. Gators last year for $1.85 million with plans to reinvigorate and expand the chain.

However, those plans collided with a drop in people eating out at casual dining outlets in South Florida because of the poor economy.

J&D filed Chapter 11 on Wednesday, reportedly listing a string of Florida and out-of-state creditors and up to $10 million in both assets and liabilities.