Bennigan's, Steak & Ale Closes Nationwide
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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.
They had lousy food.
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