The Deal
Sunday, November 22, 
1:05 am

Bennigan's files for bankruptcy protection

  Share     E-Mail    Discussion (2)     Print Story
Published July 29, 2008 at 2:36 PM
bennigans.pngThe company that owns family restaurant chains Bennigan's Grill & Tavern and the Steak & Ale has filed for Chapter 7 bankruptcy protection, according to reports. S&A Restaurant Group, a subsidiary of Metromedia Restaurant Group, shut down more than 300 locations and laid off thousands of employees.

Continue reading below

Also on Dealscape

Metromedia also owns Ponderosa and Bonanza steak houses, which were not included under the bankruptcy filing. Metromedia defaulted on a financing from senior lender GE Capital Solutions in June. Billionaire John Kluge owns the group and had been trying to save the company from filing for bankruptcy.

Many other local and national franchise chains have filed in the past year including:

- Maria Woehr

See Dealscape: Bennigan's may face bankruptcy
See The Daily Deal: MRG seeks to avoid Ch. 11
See Dealscape: Famous Dave's owner files Ch. 11 as more local chains fry



Tags

Categories



Comments

From: Austin Chu,

I work for a company that manages and tracks gift cards, and I've been following retailers filing for bankruptcy on savvywallet.com. Ponderosa and Bonanza are still accepting Metromedia gift cards. I'm not sure about franchise owned Bennigans's. My advice? Go spend your gift cards, we simply do not know how long they will be accepting them. Don't forget The Sharper Image incident: $25m in unused gift cards.

Posted on: July 29, 2008 5:36 PM


From: uknown,

Bennigan's Franchise still accepts the gift cards.

Posted on: August 1, 2008 1:32 AM


Post a comment





The Deal Pipeline

Deal Video


Inside The Deal: Avaya Inc.'s Mohamad Ali on the company's next target.

More video...

Crisis On Wall Street
Technology
Deals of The Decade

Community

Industry Insight

Managing your shareholder base

By Bradford P. Weirick and Joelle Khoury, Gibson Dunn

Growth companies and their PE sponsors should be wary of the pitfalls that arise when they layer on tiers of preferred stock.


Industry Insight

Easing the stress of distressed M&A

By Derek Watson, KPMG

Corporate buyers face numerous complexities when trying to identify the right moment to purchase a distressed asset.


Editor's Note

Editor's letter: Nov. 16, 2009

By Robert Teitelman

Beneath the veneer of Wall Streeters beats the same heart, stirred by the same determinants of behavior.


footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg


©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.