ARG Enterprises Inc., operator of 69 Black Angus Steakhouse restaurants in seven states in the western U.S., is seeking bankruptcy protection and a buyer, Bloomberg reports. In a statement filed with the bankruptcy court on Thursday, the Los Altos, CA-headquartered chain blamed its demise on the impact of the mortgage crisis on consumers’ discretionary income.

Founded in Seattle, WA, in 1964, the chain specializes in black Angus steaks, prime rib and seafood, and employs more than 3,600 people.