8 Shells Restaurants Closed After Bankruptcy Filing

By THE ASSOCIATED PRESS | Tbo.com
Published: September 04, 2008

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TAMPA - Shells Seafood Restaurants has closed eight of its remaining 22 outlets in Florida and filed for Chapter 11 bankruptcy.

The Tampa-based chain announced the moves Wednesday as it struggles to become profitable again. Shells lost $12 million in the past two years. New management that arrived three months ago says it hopes to nurse the chain back to health with a new menu and maybe even a new name.

Shells' story is the latest in a series of failed turnaround stories in the stressed casual restaurant industry.

The shuttered Shells restaurants are in Orlando, Winter Park, Kissimmee, Ocala, Winter Haven, St. Petersburg, Holmes Beach and Fort Myers.