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'Iron Chef' announces bankruptcy, sale of restaurant empire

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PHILADELPHIA — An "Iron Chef" from Philadelphia has announced he's filing for bankruptcy and selling his restaurant empire.

Jose Garces filed for Chapter 11 bankruptcy protection Wednesday and a Louisiana hospitality company has offered to buy the Garces Group for $5 million.

Garces gained fame after winning the second season of Food Network's "The Next Iron Chef."

The 45-year-old has previously blamed his financial collapse on the closing of Atlantic City's Revel casino and the four restaurants he operated there and the closing of the Amada location he opened in New York.

Garces says his restaurants will operate as usual, and he expects few job cuts once Ballard Brands takes over.

The deal is expected to close in 45 to 60 days.

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This story has been corrected to show that the name of the restaurant in New York is Amada, not Amanda.

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