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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 72 218 10,440
MORTGAGES 91 293 13,620
FORECLOSURE NOTICES 25 68 2,712
BUILDING PERMITS 0 393 24,700
BANKRUPTCIES 62 184 10,076
BUSINESS LICENSES 25 62 3,798
UTILITY CONNECTIONS 90 338 14,895
MARRIAGE LICENSES 10 68 3,235

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