Bennigan's Goes Bust, Steak & Ale Too

Restaurant chains Bennigan's and Steak & Ale have filed for Chapter 7 bankruptcy protection and will shut their doors.

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.