On November 12, 2001, DenAmerica, now operating as Phoenix Restaurant Group, filed for Chapter 11 bankruptcy protection. This resulted in the closing of 48 Black-eyed Pea locations, reducing the chain to 44 locations (not including the Colorado locations, whose owners were in better financial shape). In 2002, under new management, Black-eyed Pea was reformatted as a "country casual" chain by adding more appetizers and seafood offerings, along with more grilled items, as well as an increased emphasis on its bar. In December 2008, former corporate employees Stephen Shaw and Alan Laughlin, along with Steve's brother Jim Shaw, purchased all rights to the Colorado locations of Black-eyed Pea. The three began changing menu items and pushing more advertising.