Bennigan's, Steak & Ale Close,
File for Bankruptcy Protection
By JEFFREY MCCRACKEN and JANET ADAMY
WSJ
July 29, 2008 12:47 p.m.

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 of employees.

It is one of the country's largest restaurant bankruptcies and
eliminates two sit-down chains that have been part of the casual-dining
landscape for decades. The chains will liquidate and aren't likely to
re-open.

Late Monday, managers at Bennigan's and Steak & Ale were told not to
open restaurants the next day, according to two people familiar with the
matter. Employees were told there wouldn't be enough money to pay them
for the rest of the week, these people said.

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Economic problems? What? Nah.