(FranchisePick.Com)  Related:   Bennigan’s Files For Bankruptcy, Closes Company Locations
Larry Briski, president of the Franchise Operators Association for Bennigan’s, was taken by surprise Tuesday morning by reports that Bennigan’s parent Metromedia Restaurant Group was shuttering company stores and declaring bankruptcy in order to to liquidate its assets and shut down, citing $550 million in assets and about $150 million in debt.
According to an article in the Post-Tribune, franchisee Briski  learned more on a conference call tuesday afternoon.
Briski said a Tuesday afternoon conference call with company officials affirmed Bennigan’s name and franchise operation would be sold to an Atlanta-based company. The firm, …read more

Talk Stock Trading broke this story:
S & A Restaurant Corp., parent company of the restaurant chains Steak & Ale and Bennigan’s Grill and Tavern, has filed for bankruptcy.  This morning, Bennigan’s closed all of its company-owned stores.
Bennigan’s Grill and Tavern opened in 1976 and has 800 restaurants in 32 states.  Its independently owned franchises will remain open…and I hope to find one near me.
According to a story in the Wall Street Journal:
National restaurant chains Bennigan’s and Steak & Ale have closed their doors and filed for Chapter 7 bankruptcy protection, shuttering more than 300 locations and letting go of thousands …read more