Albuquerque Journal (Albuquerque, NM)

Owners of Ned's Seek Bankruptcy Protection.(Business)

Byline: Aaron Baca Journal Staff Writer

Ned's Restaurant and Bar in the Uptown area has closed while its owners try to steer the company through a Chapter 11 bankruptcy.

Ned's, a longtime fixture in the Albuquerque restaurant scene, filed for bankruptcy protection Jan. 12 in Albuquerque under the corporate name Wiley's Inc. No schedule of assets and liabilities has been filed in the case.

"We're optimistic that we'll be able to open the restaurant again soon," said Chris Pierce, an Albuquerque lawyer representing Wiley's.

"Right now we're still investigating and conducting analysis (for the bankruptcy case)," he said. "After that we'll have a better idea when we can reopen. …

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