Published on May 24, Want seafood news sent to your inbox? You may unsubscribe from our mailing list at any time. April 3, November 8, November 2, M inneapolis' Oceanaire Inc. Oceanaire filed for Chapter 11 bankruptcy reorganization in July, one of scores of restaurant chains felled by a recession that bit deep into consumers' discretionary spending. Oceanaire closed four restaurants, but its other 12 outlets remained open, as is custom in Chapter 11, while the company looked for financial relief.
The deal needs federal bankruptcy court approval, which could come as early as next week. Oceanaire started as a single Minneapolis outlet in It was part of Parasole Restaurant Holdings -- progenitor of such other well-known Twin Cities restaurant concepts as Manny's Steakhouse and Chino Latino -- until it was spun off in Oceanaire's majority owner has been New York-based Clarion Capital Partners, though it's now poised to lose its equity, Ryan said, a common occurrence in a Chapter 11 bankruptcy.
Oceanaire has been one of the Twin Cities' most successful restaurant exports in recent years. The company still operates in nine states, according to its website.
The restaurants are built to feel like great seafood supper clubs of the s and s. We feel it fits in with our restaurants. Landry's operates restaurants nationwide, including 75 in Texas, and many of its holdings feature seafood. First Name Last Name Email. Submit Please check errors in the form above. Thank you for signing up for email updates! View All Specials. This website uses cookies to ensure that you get the best experience on our website.
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