Serve Holdings LLC, the largest franchisee of Captain D’s restaurants in the country, has filed for Chapter 11 bankruptcy.
With 750 employees, according to its Web site, and annual revenues of about $21 million, according to Memphis Business Journal research, Serve Holdings operates 26 Captain D’s restaurants in the Memphis area.
According to its Dec. 19 Chapter 11 bankruptcy filing with the U.S. Bankruptcy Court of the Western District of Tennessee, Serve Holdings’ largest unsecured creditor is its franchisor, Nashville-based seafood chain Captain D’s LLC, to which Serve Holdings owes more than $245,000.
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