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Home/Banking News/An Unexpected Restaurant Is Now Pulling Out of A State
Market News Today - An Unexpected Restaurant Is Now Pulling Out of A State

An Unexpected Restaurant Is Now Pulling Out of A State

By Frank Nez
May 7, 2024
2

An unexpected restaurant is now pulling out of a state by the end of the month due to the chain facing ongoing difficulties for years.

Joe’s Crab Shack in Deptford, New Jersey — just across the Delaware River from Philadelphia, Pennsylvania – will be shutting its doors for the last time later this month, reports The-Sun.

The next nearest Joe’s Crab Shack location is in Baltimore, Maryland, according to the company’s website.

Store leadership made the announcement on April 24.

The short-notice closure is a result of a “natural lease expiration,” the spot’s Chief Operating Officer Terry Turney told reporters at the local e-news site 42Freeway.

He confirmed when the last day that seafood lovers could grab a meal at the restaurant would be.

“Joe’s Crab Shack located at 2000 Clements Bridge Road in Deptford, NJ will close its doors on May 26, 2024,” he said.

The restaurant has been located at the Deptford Landing shopping center in Gloucester County for years.

Joe’s Crab Shack opened its first restaurant in Houston, Texas in 1991.

The restaurant chain has been facing difficulties for years, culminating in a bankruptcy filing in 2017 and a change of ownership, according to the Houston Business Journal.

Landry’s Restaurants bought the failing company at auction later that year and immediately shut down 40 locations.

The corporation owns hundreds of hospitality, entertainment, and gaming franchises, including Del Frisco’s and Morton’s Steakhouse.

Although more mass closures have not been announced by Landry’s, over a dozen Joe’s Crab Shacks have closed in the last few years.

In December, the nearest Joe’s Crab Shack shut down in Clifton, New Jersey.

Leadership gave the same explanations for both the Clifton and Deptford restaurants, citing a “natural lease expiration.”

The company’s spokesman concentrated on other aspects of the situation in his comments about the most recent closure to local reporters.

“We thank the community for the many years of support.

We value our employees, their dedication to our company, and are working to relocate them to our sister locations nearby,” Turney said.

The Deptford location has already been put up for lease by the Wharton Real Group, according to NJ.com.

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Also Read: A Massive Grocery Brand Now Files For Chapter 11 Bankruptcy

Market News Today - An Unexpected Restaurant Is Now Pulling Out of A State.
Market News Today – An Unexpected Restaurant Is Now Pulling Out of A State.

A massive furniture store is now closing after 100 years in business with no plans to keep operations running, sources confirm.

Union Furniture Company first opened in 1912, four months after the sinking of the Titanic.

Despite shifts in ownership throughout the years, the Becker family was able to keep the store’s doors open in Macon, Georgia, just over 80 miles south of Atlanta, until recently.

Simon Becker, the grandson of the store founder and his namesake, told LOCAL CBS affiliate WMAZ that he has been with the company since 1984.

“I spent 40 years here,” Becker said.

“My father and my uncle before me, my grandfather before that.”

He revealed to the outlet that approximately nine months ago, he decided he would need to close the store.

“But I don’t have anybody following me, so it was going to happen either now or sometime in the relatively near future anyway,” Becker said.

For 112 years, the Union Furniture Company has sold couches, coffee tables, washers, and more.

Becker told the outlet that the store has had repeat customers that go back 20, 30, and even 40 years.

“We’ve had the grandchildren of people we’ve done business with, do business with,” he said.

He called the decision to close “difficult” and “very emotional”, reports The-Sun.

Becker is planning to host a closing sale at the Macon store starting on Wednesday, April 24.

Everything in store is set to be sold with discounts as high as 50% off.

Once everything is gone, Becker said the store will officially close.

He told the outlet that he and his family are grateful to the Macon community that has been their home for decades.

“So thankful to the community for everything that they’ve done for us and we’ve done for them as well,” he said.

“Providing furniture for generations of people in the Macon community.”

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Also Read: A Massive Grocery Chain With 400 Stores Is Now Closing

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Market News Today - An Unexpected Restaurant Is Now Pulling Out of A State.
Market News Today – An Unexpected Restaurant Is Now Pulling Out of A State.

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Frank Nez is an American entrepreneur, journalist, writer, and investor. Frank's work has been cited by SEC and Congressional reports. Franknez.com is a personal finance and market news publication, dedicated to publishing content on money, investing, entrepreneurship, and retail investor news.

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  1. Frank Nez says:
    May 7, 2024 at 12:49 am

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  2. Frank Nez says:
    May 7, 2024 at 12:48 am

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