Bennigan’s: Franchise Owners Shocked by Bankruptcy, Closings

(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