NEW YORK, July 29, 2008
Bennigan's Goes Bust, Steak & Ale Too
Restaurant Chains File For Bankruptcy, Will Liquidate Assets, Close Stores
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(CBS/AP)
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Interactive Eye On The Economy In-depth features on U.S. markets, taxes, employment and the Federal Reserve.
The companies filed for bankruptcy protection in the Eastern District of Texas. Their parent company - privately held Metromedia Restaurant Group - is based in Plano, Texas.
In a Chapter 7 bankruptcy filing, a company seeks to liquidate its assets and shut down.
In the filing, the company indicated that it has up to 49 creditors. It said it will have no funds left after administrative expenses are paid to repay its creditors.
Neither Bennigan's nor the Metromedia Restaurant Group returned calls for comment.
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- I just received a gift certificate for anniversary what do i do? just received it th 25th of july?? who do i contact?
- Reply to this comment
- I wonder who''s next in line:
Chili''s
TGIF
Why do good restaurants have to close down?
Funny how Ding Dong restaurants are still around:
Jack in the box
Burger King
Wendy''s
McDonald''s (oops, sorry Micky Dee''s) - Reply to this comment
- Hey, former Steak&Ale employees:
Who has the recipe for that bread you serve? I''ll give you five bucks for it. - Reply to this comment
- Only the strong will survive, not the mismanaged.
- Reply to this comment
- http://www.rapidtrends.com/blog/
- Reply to this comment
- This just shows what average food, high prices and poor service will get you. We used to go to Steak n Ale for birthdays and anniverseries but stopped several years ago due to the above. These places need to listen to their customers until they reach the place where Wal Mart is and then they can ignore the customer knowing it won''t matter.
- Reply to this comment
Posted by BC_Kelly at 02:16 PM
Very good post
Posted by thgdriver at 07:31 PM
- too bad for you.- Reply to this comment
- BC_Kelly:
nice post
there will be more - Reply to this comment
- More evidence that Reagan''s trickle-down supply-side voodoo economics dowsn''t work.
Once the "big box retailers" start laying off low wage workers, that''s when you know that the Republican "tax cuts for the rich" have failed. - Reply to this comment
- What no taxpayer bailout? Like the banks are getting.
- Reply to this comment
President Obama's 
