Palm Steakhouse Brand, Restaurants to be Sold in Bankruptcy

Just One More Restaurant Corp., which owns the Palm steakhouse trademark, plans to sell the brand as part of its Chapter 11 bankruptcy proceedings, a deal stemming from a dispute among its founders’ heirs.

The trustee for JOMR’s controlling shareholders who are in the midst of their own Chapter 7 bankruptcy cases—Bruce E. Bozzi, Sr. and Walter J. Ganzi, Jr., the Palm founders’ grandsons— also plans to sell 24 Palm restaurants they own or operate, their lawyers said in a Jan. 7 statement.

Their plan to unload the assets comes after JOMR’s minority shareholders—who are also heirs of the Palms’ ...