United States

Parent of Palm restaurant chain files for bankruptcy

A bitter family feud behind the legendary Palm restaurant just took a sharp turn — right into bankruptcy court. Just One More Restaurant Corp., which licenses the Palm name to 24 restaurants across the country, including three in Manhattan, filed for Chapter 11 protection in Fort Myers, Fla., on Thursday. The move comes less than a month after a Manhattan state court judge entered a final judgment ordering the company to fork over nearly $120 million to resolve a royalty dispute brought by a group of family members who claim they have been ripped off for over 40 years. The bankruptcy filing also comes just days before a March 11 court hearing about enforcing the judgment on the chain most famous for the caricature drawings of celeb ...