Restaurant operators across the country are currently facing a financial strain. Baylie’s Square Incorporated emerges as a new name against this backdrop.
The company, which operates as The Grill At Morris Bridge in Tampa, Florida, has commenced a Chapter 11 process. The restaurant serves upscale American fare, including steaks, seafood, and pasta dishes.
Baylie’s Square Incorporated Enters Bankruptcy
As per case records shown on PACER, Baylie’s Square Incorporated submitted a Chapter 11 petition on June 11, 2026. The records classify it as a small business debtor, which has decided to move ahead in the proceedings under Subchapter V. Subchapter V is designed to help small businesses reorganize more quickly and at a lower cost.
Operating as The Grill At Morris Bridge, the company serves upscale American fare and a wide collection of wines.
According to the National Restaurant Association, restaurants across the U.S. are currently facing a range of issues. Food costs remain elevated, with prices roughly 34% higher than pre-pandemic levels.
Restaurant operators have also cited labor costs and tariffs as ongoing challenges.
Filings Made So Far
Case records show that the company currently faces a financial imbalance. While the liabilities of Baylie’s Square Incorporated are over $708,000, its assets are just up to $124,300.
The company added a list of creditors with the largest unsecured claims in its petition. Some of them are Amsterdam Capital Group, Florida Dept. of Revenue, Toast Capital LLC, and Capital Assist LLC.
Court filings indicate funds will be available for distribution to unsecured creditors.
As per the list of equity security holders added in the petition, company president Frank Gouveia holds 85% equity in the restaurant business. James Gouveia holds 15% equity in the company.
Case filings show that Samantha L Dammer of Bleakley Bavol Denman & Grace is the legal counsel for the company.
Other details given in the Chapter 11 petition are shared here:
- Filing Date: June 11, 2026
- Court and Jurisdiction: U.S. Bankruptcy Court for the Middle District of Florida
- Type of Filing: Active, Voluntary Petition
- Chapter: 11, Subchapter V
- Case Number: 8:26-bk-05017-CED
- Estimated Assets: Between $100,001 and $500,000
- Estimated Liabilities: Between $500,001 and $1 million
- Estimated Creditors: 1-49
- Reason for Filing: Restructure business under court supervision
Series of Filings by Restaurant Businesses
After facing financial distress, a range of restaurant service providers have pursued bankruptcy proceedings in the past months.
Loyd Have Mercy LLC filed for Chapter 11 proceedings on May 26, 2026. Case records show that the Titusville, Florida-based restaurant company has decided to proceed using Subchapter V proceedings. The restaurant specializes in soul food and caters holiday gatherings, fundraisers, sporting events, and other occasions.
Amid a financial disparity, Augie’s Italian Restaurant Corp. stepped into bankruptcy proceedings on March 16, 2026. The filing came in less than a year after the in Larchmont, New York-based restaurant’s 35th anniversary celebration. Over the years, the restaurant has served pizzas, sandwiches, and other Italian favorites.
On March 11, 2026, a North Hollywood, California-based restaurant business initiated a restructuring bankruptcy. Court records show Hayats Kitchen sought relief under Subchapter V as part of its financial restructuring efforts. Offerings at the Lebanese establishment include hummus, tabouli, mujadara, and more.
Baylie’s Square Incorporated’s filing yet again shows the ongoing stress across the U.S. restaurant industry. Upcoming proceedings are expected to shape its future financial footing.
