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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 66 378 15,444
MORTGAGES 67 456 20,235
FORECLOSURE NOTICES 12 121 4,007
BUILDING PERMITS 175 1,046 36,888
BANKRUPTCIES 58 290 14,633
BUSINESS LICENSES 16 80 5,209
UTILITY CONNECTIONS 76 388 22,205
MARRIAGE LICENSES 28 111 4,774

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