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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 78 278 3,693
MORTGAGES 113 368 5,162
FORECLOSURE NOTICES 29 106 1,177
BUILDING PERMITS 226 574 9,139
BANKRUPTCIES 59 245 3,587
BUSINESS LICENSES 22 103 1,520
UTILITY CONNECTIONS 330 954 4,869
MARRIAGE LICENSES 18 94 1,004

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