Danny and Phil are a pair of underachieving cousins who happen to be related to Pete O'Donnell, the crazy owner of a hole-in-the-wall pub on Long Island. With the bar losing money, Pete makes the mistake of going on a drunken rampage, getting himself thrown in jail right when the banks are preparing to foreclose. Pete calls on Danny and Phil to run the bar while he's locked up, and together they try a number of schemes, including turning it into a high school speakeasy, just to keep it afloat.