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Oceanaire Files for Bankruptcy

The DMN reports that Oceanaire Seafood Room at the Galleria has filed for chapter 11 bankruptcy protection in Dallas. Initial court filings indicate that Oceanaire (Yikes! Cheesy music on their web site.) owes between $10 million and $50 million to 50 to 99 creditors; assets are listed as $10 million or less.

UPDATE: I just pulled this from the comments. NN

Hello, My name is Jeff Bowman and I am the General Manager/Operating Partner of The Oceanaire Seafood Room here in Dallas. I want to let everyone know that the Oceanaire here in Dallas is still open for business. We have been and will continue to be the premier seafood restaurant for people seeking the best dining experience in the Metroplex.

16 comments on “Oceanaire Files for Bankruptcy

  1. I go to Oceanaire about twice a month to sit at the bar and enjoy half-priced oysters (all day, everyday if you eat at the bar) and they usually have a selection of 10-15 varieties featuring PEI quite heavily. Hopefully this won’t disrupt operations at my favorite oyster slurping spot…

  2. Hello, My name is Jeff Bowman and I am the General Manager/Operating Partner of The Oceanaire Seafood Room here in Dallas. I want to let everyone know that the Oceanaire here in Dallas is still open for business. We have been and will continue to be the premier seafood restaurant for people seeking the best dining experience in the Metroplex.

  3. I always enjoyed eating there. Great Food and ambiance.
    Worzel- Isn’t there a bridge for you to grump under. Bitterman, table for 1!

  4. I would hesitate to eat half-priced oysters at a restaurant that’s going bankrupt.

  5. I would just hesitate to eat oysters (anywhere) at this time of year, period!

  6. Oysters this time of year are perfectly safe if they come from cold waters.

  7. Jane: You didn’t read the original post! It says Oceanaire is in bankruptcy, not me. I am not grumpy. What I did was draw attention to the <> uncovered debt for a RESTAURANT if the upper limit of $50m was accurate (the fact that it is there tells you it likely is).

    This apparently went in one of your ears and out the other without meeting any obstruction on the way.

  8. Seriously, re-read the article. The Dallas location is not going bankrupt. They closed 4 of the 16 nationally and the Galleria Dallas wasn’t one of them. And the idea that they’d be shucking past their prime oysters b/c their parent company owes a bunch of money is beyond ridiculous.

  9. The article does not say what entities filed for Chpater 11 and leaves the impression, carried over here, that the Dallas location did. However, Nations Restaurant News has more detail here:
    http://www.nrn.com/article.aspx?id=369376

    It reports that the parent has filed for Ch. 11. So the Dallas restaurant is part of the operations that are in bankruptcy.

  10. Oceanaire has stellar product, their chefs know how to prepare the seafood correctly and the front of the house service is always friendly and precise. Many restaurants around here could use a lesson or two from the Oceanaire staff. Maybe not in the financial realm but certainly in food and service.

    Hope you make it through this, Oceanaire people.

  11. Braunoser, thanks so much for your concern but, no, we love carrying water particularly for seafood restaurants.

    Worzel, thanks for the link. Of course this location is part of the parent company that filed. I’ve always understood a Chapt 11 reorg as one where they close the ones that are draining cash and keep the ones that aren’t. At least for now, they’ve kept this one open for I assume good reason.

  12. So let me get this straight. Your parent corporation is filing bankruptcy, so the Dallas Restaurant is going to deliberately sell spoiled food, inviting an influx of lawsuits? That would be like a local Chevrolet dealer selling Trucks with loose lug nuts just because GM filed for bankruptcy. And some of you need to re-read the D mag article a few years back on oysters served here in Dallas restaurants. This time of year Farm raised is fine, but less tasty. The problem is at the docks on the gulf and how long gulf oysters may sit there after they are harvested out of the water and before the are refrigerated.

  13. Yo Handsome I just went all the other comments posted and no where in the article or the posted blogs does it mention spoiled food. They will still order fresh seafood and have it flown in as they have always done. It is a very tough time for all high end restaurants right now and Oceanaire isn’t going to be last chapter 11 we read about. My guess is Oceanaire will be better than ever, they understand they will have to work harder to retain the business they have and to capture new business.