Bennigan's, Steak-and-Ale File for Bankruptcy, Locations to Close

Bennigan's, along with Steak & Ale and Tavern restaurants, will shut down after its parent company S&A Restaurant Corp. filed for bankruptcy on Tuesday.

S&A Restaurant Corp., a subsidiary of Metromedia Restaurant Group (MRG), filed for Chapter 7 bankruptcy Tuesday. The company listed assets totaling $778.9 million and debt of  $324.2 million in 38 separate Chapter 7 petitions filed in U.S. Bankruptcy Court in Sherman, Texas.

Not all stores using these trade names have filed bankruptcy. For instance, stores operated by franchisees are not named as debtors in the filings.

The filing also does not include the Ponderosa and Bonanza steak house chains, which are operated separately by Metromedia Steakhouses Co. LP, and are ultimately controlled by Metromedia Restaurant Group. Metromedia, also based in Plano, Texas, operates 700 restaurants in 16 countries

MRG, owned by billionaire John Kluge's Metromedia Co., has gone through an influx over the past couple of months. In May, Clay Dover resigned from his position as President and CEO of MRG after a year at the post.

Bennigan's Bar & Grill has 255 restaurant locations in the United States, 159 of which are company-owned, and more than 55 in nine other countries. In June, Metromedia put 59 of its Florida restaurants up for sale or lease.

Bennigan's was founded in 1976 and has restaurants in 32 states. The casual dining restaurant has a semi-Irish pub theme.

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