The Oceanaire Restaurants File For Chapter 11

by Deidre Woollard (RSS feed)
Jul 7th 2009 at 9:02AM

A seafood restaurant chain with outlets around the country, The Oceanaire Inc. has filed for Chapter 11 bankruptcy protection. The Oceanaire listed assets and debts of between $10 million and $50 million and filed for Chapter 11 in Dallas. It has asked a U.S. Bankruptcy Court to close some of its restaurants. So far it has closed restaurants in ~~Seattle,~~ Cincinnati, Charlotte, Philadelphia and Seattle. The Oceanaire serves fresh seafood, lobster, crab and has an oyster bar and traditional caviar service served in a decor designed to evoke a classic ocean liner feel. The company is working with lenders on a restructuring plan and plans to emerge from Chapter 11 by the end of the year. The twelve other locations in Denver, Atlanta, Baltimore, Houston, Indianapolis, Miami, Minneapolis, Orlando, San Diego and Washington D.C. will remain open.

Gallery: Restaurant Woes

Tags: chapter 11, Chapter11, oceanaire

Filed under: Dining

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Reader Comments (Page 1 of 2)

Caminocielo Jul 7th 2009 2:57PM

Looking at the cities, it's a stretch to say "fresh" seafood. Plus, a very high fixed-cost (labor intensive, transport-intensive, huge breakage intensive). A very difficult business model to sustain. They may be running out their string, or may have already.

beanspants Jul 7th 2009 5:59PM

Fish trucks deliver fresh fish to many inland cities and restaurants of varying pedigree daily. This means fish that is either still alive, or is dead but has not been frozen.

You can get fish as fresh as you get living on the coast. It's been this way for 20 years.

wwwhhaaaat??? Jul 8th 2009 5:09AM

uhhhhh hello moron! Check out that funny round spinny thingy with all the lumpy bumpy things on it that used to be in your class room last year when you were a kid.......... it's called a globe- even a simple map would suffice- you can even find them online now! Less than half the cities mentioned are inland cities. The majority of them are actually coastal cities and have an abundance of access to fresh seafood on a daily basis! Or maybe that would be too intensive for you? Might be breakage intensive(?) to your brain to educate yourself before you tappity tap your idiocy out on a keyboard!

Laurel Jul 8th 2009 5:41AM

Only 2 of the 4 closing were inland cities and one of those is a mere 90 minute drive from the coast. Of the 12 remaining open, only 3 aren't on the coast with two of those 3 cities being major airline hubs. The third is the 11th largest city in the US. They don't have a problem getting fresh seafood.

nickerson Jul 7th 2009 3:51PM

They deserve to go under, their customer service was in the pits.

dave Jul 7th 2009 3:53PM

Next to go is Bonefish Grill

briggsupland Jul 8th 2009 1:39AM

Owned by Outback do not see it going out

Alex Jul 7th 2009 5:49PM

Dave, I hate to burst your bubble but Bonefish will not be going away. I have been with OSI (Outback Steakhouse Inc) for 18 years. Started off with Outback and transferred to Bonefish as a Managing Partner almost 7 years ago. Outback will be closing several restaurants and no openings scheduled for fiscal 09 but Bonefish on the other hand is still going strong. We have more than 15 opening scheduled through mid 10. Just a little FYI. Check your facts before making idiotic claims.

Todd Jul 7th 2009 10:50PM

Bonefish is great!!!!!

wwwhhaaaat??? Jul 8th 2009 5:13AM

Since you are in the inside loop...Boston? Not mentioned in the article though Seattle merited twin entries. Have been to restaurant several times, just haven't made it recently and loved everything about it. Would really hate to see it go. Was looking forward to next visit

joann203 Jul 7th 2009 5:32PM

Red LObster should be next That is the nastiest food I ever ate "HURL"

SuzSwt4 Jul 7th 2009 5:59PM

Seattle is so wonderful,they had to mention it twice? mybe they need someone to edit these news flashes before posting them.

reno Jul 7th 2009 11:11PM

seafood tastes great anyway-hot cold , old new.
It is all about the management and staff and owners trying to pinch every dime and reporting losses when they drive company owned fancy cars and use company credit cards to go out to eat. Oceanaire thought it was millionaire or billionaire.

Joe Jul 7th 2009 7:18PM

The Bonefish is a very strongly financed restaurant corporation. It won't be going anywhere. The consistency is not perfect, but it's really good. The daily specials are damn good. Really everyone, let's not start something unless there is fact to back it up.