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 consumersā€™ 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.