Bankruptcy Update: Bennigan's, Mervyn's and more

Here are some of the latest bankruptcy stories our reporters have been covering Wednesday morning on TheDeal.com. For more check out the bankruptcy channel on TheDeal.com or visit Bankruptcy Insider.

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Bennigan's chain parent to liquidate
Hungry customers looking for some sandwiches and burgers from a local Bennigan's Grill & Tavern were in for a rude awakening on Tuesday afternoon. S&A Restaurant Corp., the parent of the Bennigan's restaurant chain as well as the Steak & Ale Restaurant, Plano Tavern, the Southlake Tavern and the 29 Degree Tavern brands, abruptly closed all of its company-owned eateries and announced that it had filed a Chapter 7 petition. - Ben Fidler

Mervyn's files for Ch. 11
Private equity-backed Mervyn's Holdings LLC filed for bankruptcy Tuesday with plans to use its cash collateral and $465 million in debtor-in-possession financing. - Jamie Mason

Del Biaggio may leave legacy behind
Several companies of Silicon Valley investor William "Boots" Del Biaggio III face liquidation after he resigned from the Sand Hill Capital venture capital firm he co-founded. Del Biaggio, who has a one-third interest in the National Hockey League's Nashville Predators, made a separate personal Chapter 11 filing on June 6 -- a day after one unit he owns sought Chapter 11 and a day before two others filed. - Terry Brennan

Laurus prevails in Thinkpath auction
Laurus Master Fund Ltd. won the auction for bankrupt Thinkpath Inc. for $4.976 million on Tuesday. The approval of the sale will be considered on Thursday. - Jamie Mason

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