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VOL. 7 | NO. 28 | Saturday, July 05, 2014

Sharky's Closes Following Chapter 11

By Amos Maki

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Sharky’s Gulf Grill, an upscale seafood establishment in East Memphis, has closed its doors.

Sharky’s Gulf Grill, an upscale seafood establishment at 6201 Poplar Ave., has closed its doors. Sharky's filed for Chapter 11 bankruptcy in April.

(Daily News File Photo)

Sharky's Gulf Grill LLC, which opened in 2009 and filed for Chapter 11 bankruptcy in April, closed the restaurant in the 6,300-square-foot building at 6201 Poplar Ave. in East Memphis, which is prime commercial real estate space.

Sharky’s enjoyed a good run, at one point even landing respected local chef John Bragg to serve as executive chef.

But managing owner John Golon told the Memphis Business Journal that mismanagement and competition from new restaurants led to the establishment’s poor fortunes.

The MBJ reported that according to “multiple sources,” property owner Aaron Muschel has a contract to sell the property despite a U.S. Department of Justice lien.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 116 413 13,039
MORTGAGES 149 479 16,949
FORECLOSURE NOTICES 0 26 3,316
BUILDING PERMITS 176 701 28,395
BANKRUPTCIES 87 303 10,793
BUSINESS LICENSES 26 111 4,315
UTILITY CONNECTIONS 97 472 16,821
MARRIAGE LICENSES 25 100 3,791

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