UPDATE: Shells files for Ch. 11 bankruptcy, closes stores

TAMPA Fla. Shells Seafood Restaurants Inc. said it has filed for Chapter 11 bankruptcy protection and closed eight of its 23 restaurants. The move comes a few days after Shells reported that Warren R. Nelson had resigned as president and chief financial officer.

Shells said it would continue to operate the remaining 10 restaurants it owns. The company also noted that four Shells units that it manages but doesn't own and the new Rock Beach Grill unit, in which

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