Lynyrd Skynyrd, who opened their restaurant, Lynyrd Skynyrd BBQ & Beer, on the Las Vegas strip two months ago, have filed for Chapter 11 bankruptcy protection from their creditors.
"Although Lynyrd Skynyrd was not the proprietor of the restaurant, the band licensed their name and likeness for the 'BBQ and Beer style' concept. Unfortunately, the project was launched during a downturn in the economy," the band said in a statement.
The statement added that "the band was not involved in the day-to-day operations of the property [but that] the band and management are very disappointed the venture did not have a positive result."
The restaurant was proclaimed by one Las Vegas Weekly writer to have the best barbeque on the Strip. But, according to the bankruptcy filing, it owed $677,000 on its loans.
Copyright(c) 2012 RTTNews.com. All Rights Reserved