A month after New Times broke the story that Yardbird Southern Table & Bar suddenly closed, news about the group’s status has come to light.
Yardbird, the fried-chicken-and-bourbon restaurant that opened in Miami Beach in 2011, has filed for Chapter 11 bankruptcy protection in Delaware as the company prepares for a potential sale.
For Miami diners, the news may feel like another blow after the original Yardbird abruptly closed its South Beach restaurant in August following a 15-year run. But before adding Yardbird to the growing pile of alarming restaurant headlines, a few important distinctions matter.
The restaurant remains open in other states
The word “bankruptcy” tends to conjure images of locked doors and liquidation sales, but that’s not what Yardbird filed for. Chapter 11 lets a business keep operating while restructuring its finances, addressing debts and, in Yardbird’s case, pursuing a sale under court supervision…