SHELLS SEAFOOD RESTAURANTS INC (fka SHLL)

[MC2]

If anyone is interested:
Shells Seafood Restaurants, Inc. is a full-service, casual dining seafood concept designed to appeal to a range of customers. Shells restaurants feature a selection of seafood items, including shrimp, oysters, clams, scallops, crawfish, mussels, lobster, crab and daily fresh fish specials, cooked to order in a variety of ways, such as steamed, sauteed, grilled, blackened and fried. In addition, the Company's restaurants offer a selection of signature pasta dishes, appetizers, salads, and desserts and full bar service. All Shells restaurants are open for lunch and dinner. In December 2007, the Company entered into an agreement to sell its marks and system in certain middle eastern countries to Food and Entertainment Co., LTD. It sold the development rights to Food and Entertainment to open 10 restaurants over a 10-year period. In September, 2008, the Company announced that it filed a voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code.

[MC2]

I know it's been a while since you posted on the SHLL board, but I was wondering if you ever found anything out about the company. The reason I ask is that I just started getting marketing Emails from the company again. So they must be giving it a go of some kind. TIA for any info you can send my way. MC2 (+)

[Homard]

Shell gets a Q... is there any play here?

[02opida]

some love > some don't

[Seminole Red]

Maxwell Media Marketing: The Serious-Speculator.com Movers and Shakers for Thursday, September 4, 2008 - SHLL, ESPH, WWEI, SSTP

Sep 04, 2008 (M2 PRESSWIRE via COMTEX) -- Maxwell Media Marketing: Serious Speculator's Market Movers and Shakers for today and tomorrow include: Shells Seafood Restaurants, Inc. (OTCBB: SHLL), Ecosphere Technologies, Inc. (OTCBB: ESPH), Welwind Energy International Corp. (OTCBB: WWEI), Sustainable Power Corp. (Pink Sheets: SSTP)
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TODAY'S MOVERS AND SHAKERS: Top Story

SHELLS SEAFOOD RESTAURANTS, INC. - Bankruptcy can be a good thing?

Shells Seafood Restaurants, Inc. (OTC Bulletin Board: SHLL) jumped 23% in heavy trading on the news of September 4, 2008 that announced that it has filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The filing was made in the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division. Shells owns eighteen restaurants with a partial interest in two additional restaurants, but today closed operations at eight locations. The eight closed restaurants are located in Ocala, Winter Park, Orlando, Kissimmee, Winter Haven, St Petersburg, Holmes Beach and Ft Myers. Four other "Shells" locations managed and operated by the company, as well as the partially owned and managed "Rock Beach Grill" restaurant, are not included in this petition. To read the entire story, click here: http://biz.yahoo.com/prnews/080903/clw148.html?.v=1

[Seminole Red]

The restaurant industry in general is seasonal, depending on restaurant location and the type of food served. In addition, we have experienced fluctuations in our quarter-to-quarter operating results due, in large measure, to our full concentration of restaurants in Florida. Business in Florida is influenced by seasonality due to various factors, which include, but are not limited to weather conditions in Florida relative to other areas of the U.S. and the health of Florida's economy and the effect of world events in general and the tourism industry in particular. In addition, in recent years, our operating results have been significantly affected by hurricanes. Our restaurant sales are generally highest from January through August, the peaks of the Florida tourism season, and generally lower from September through mid-December. Many of our restaurant locations are in coastal cities, where sales are significantly dependent on tourism and its seasonal patterns.


In addition, quarterly results have been substantially affected by the timing of restaurant openings or closings. Because of the seasonality of our business and the impact of restaurant openings or closings, results for any quarter are not generally indicative of the results that may be achieved for a full fiscal year on an annualized basis and cannot be used to indicate financial performance for the entire year.

[Seminole Red]

i think im gonna get some of it

[OptionMonster]

They only have 24M O/S!! WOW>>May have to buy half the company! lol

[OptionMonster]

Thanks red!

[Seminole Red]

yes..10q

http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6099010

[Seminole Red]

Revenues for Shells continued to significantly decline in the second quarter of 2008, as the operating environment across our Florida markets has seen further erosion due to the deteriorating general economic climate. Driven by declining guest traffic, our revenues for the second quarter were 22.0% below the comparable period last year. Our comparable restaurant sales declined 18.1%. Consumer behavior, particularly relative to dining out decisions, continues to be influenced by the worsening of the state economy, which is fueled by rising gas prices and its effect on cost of living, and weakness in the housing market.


In addition to the effect of significantly declining sales, many areas of operating costs have increased. As a derivative of rising energy costs, food commodity costs have risen sharply, which affects in various degrees the costs of most products we serve. As an ongoing cost of doing business in Florida, we remain challenged by the annual increase in the Florida minimum wage and a continuing trend of increasing energy costs. We continue to aggressively focus on minimizing our resulting loss in operating leverage through tightened control over our operating and overhead costs.


Our most critical challenge continues to be reversing the negative trend in guest traffic and rebuilding consumer acceptance of the Shells brand. We introduced our new menu in early July, which not only broadened our menu offerings, but also delivered a much more compelling price proposition to our guests. We re-deployed and added restaurant labor costs in the form of incentives to better promote the new menu and accelerate guest awareness of its value offerings. We also converted a Shells restaurant in Pembroke Pines, Florida, which re-opened on August 1, 2008, as our newly branded concept, Rock Beach Grill. This new brand also conveys value through very favorable price points, while delivering a more vibrant, upbeat dining environment.


We are committed to continually seeking new avenues to win over guests by offering great food at significant value. We believe the appropriate strategy for overcoming the increasingly difficult operating environment is by delivering compelling dining experiences to our guests in both food and service, which will ultimately better position our company for the turn around toward future long-term success.

[OptionMonster]

Is SHLL going to survive? Have not followed it in some time

[Seminole Red]

we were there last weekend they were closed for vacation...they are also putting in brick pavers all around the entire parking lot....nice...

so we went to MULLIGANS and the food was awfull....not at all like the grill

[Seminole Red]

was not floating....they have good food....they have the best cole slaw....they put little mandarn oranges in it...

[Seminole Red]

not exactely right....they dont have anything in the $20 range....everything is8/9 to 14/ range....

the stores they closed down were poor performers in a depressed market....several chains in this area have closed units

tourism is way down

[OptionMonster]

Excellent place

[Seminole Red]

in vero ya go out to the OCEAN GRILL at the beach

[Seminole Red]

we have a shells here in NEW SMYRNA BEACH....

[oldtimerdraftsman]

lol that is really funny. I don't think that greasy food is the way to go for a high priced meal. To be honest, its easy to see why the share price is. Just from what you read on this board, either you've been to it and don't like it, or you have never been to it and it sounds good. Someone mentioned about tourist, there is a restaurants right in Clearwater beach at the end of the North Shore that is always packed. You can't get into the place with out reservations. I think this would be a good seasonal Florida play, being thanksgiving through spring break. (Nov-May) AKA Snow bird season lol

[Vexari]

this company is trying to resurrect it's heyday..

all it takes is cash and a perceivable vision..


do not see it here..

[OptionMonster]

I am thinking the company is losing money because of high oil prices! As I mentioned in a previous post the 1 and only time I was there my food was nearly floating in it!! LMAO!

[oldtimerdraftsman]

haha well if they want investors, maybe they can drive up the PPS and thier attendance numbers by offering DISCOUNTS... What scares me is that their online menu doesn't have prices. How much does a shrimp scampi cost? Normally, anywhere from $8-$14... There it prob costs $20 or higher, that's why there is no price.

[OptionMonster]

Surprised they never put one up in Vero..Tons of retired here..

[Vexari]

it is popular with tourists and the local retired..

[OptionMonster]

Yea..That was the 1 and only time I visited one..lol

[Vexari]

get what one pays for..

[OptionMonster]

With that last quarterly report I do not think they can afford to give discounts..lol

[OptionMonster]

The one in Brandon, Fl uses way to much oil in the food..I felt like I had a plate of grease..lol.

[Vexari]

have been to the one on north redington beach

decent food at a good price..

although better fare available locally, albeit higher prices..

my favorite

http://www.beachdirectory.com/saltrock/index.html


http://www.beachdirectory.com/rb-about.html

[oldtimerdraftsman]

I'm from FL, particularly Tampa. If I become a shareholder, can I get discounts on food?

[02opida]

Web Site: http://www.shellsseafood.com

[oldtimerdraftsman]

Never ate here, but I've heard good things! Always wanted to, now they are on the boards.. My my my

[02opida]

Shells Seafood Restaurants Inc.
16313 North Dale Mabry Highway
Suite 100
Tampa, FL 33618
United States
Phone: [phone]
Fax: [phone]