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Bennigan's, Steak and Ale chains to close

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B

bill0527

Member
Just got a Wall Street Journal email update.

NEWS ALERT
from The Wall Street Journal

July 29, 2008

National restaurant chains Bennigan's and Steak & Ale have closed their doors and filed for Chapter 7 bankruptcy protection, closing more than 300 locations and laying off thousands of employees. It is one of the U.S.'s largest restaurant bankruptcy filings and eliminates two sit-down chains that have been part of the casual dining landscape for decades. The chains will liquidate and are not likely to re-open.
Click to expand...

The Bennigan's near me used to a be a popular late night spot after a visit to the strip club behind it. I haven't ate there in years... haven't been to a titty bar in years either. Hmm..I need to get out more.
 
C

Count Dookkake

Member
Where I grew up the Bennigan's didn't seem too bad.

However, the one in Tulsa is absolutely duisgusting. Just filthy and with shit service. I never knew if that was due to the company getting older or if it was regional.

I guess I know now.
 
A

Anerythristic

Member
My wife is a huge Steak and Ale fan, she will be upset and I will catch shit for not taking her there for lunch before this closing.
 
way more

way more

Member
food_montecristo.jpg


Oh no! I've never had a Monte Cristo. If a Democrat is in power they will likely ban them forever, too.
 
B

border

Member
Every Bennigan's in town closed down at least 6-12 months ago.

I've heard that a lot of the TGIFriday's might be closing as well. They are franchised, so if the owners aren't making money they can and will just shut it down. I don't know if the corporate arm of Friday's is dying though.
 
M

mosaic

go eat paint
Bennigan's has decent food... but it's over-priced and the service speed varies too much.

Their mexican egg rolls were damn good though, I'll miss those.
 
L

levious

That throwing stick stunt of yours has boomeranged on us.
what?! Where will Butters and his parents go for their next anniversary dinner?
 
E

EMBee99

all that he wants is another baby
The fact they did it so fast is kind of spooky. In Chicago, they reported a server showed up today for his first day of work only to find the place closed.

Hooray for mismanagement!

RIP Monte Cristo.
 
R

RiskyChris

Banned
Count Dookkake said:
Over here, the seats and table cloths are really worn and the walls were dirty. That kind of super shitty?
Click to expand...

The atmosphere took a hit, but the biggest loss in quality was with the food. It was just subpar.
 
B

bill0527

Member
Full article on the subscription portion of the WSJ right now:

Bennigan's, Steak & Ale Close,
File for Bankruptcy Protection
By JEFFREY MCCRACKEN and JANET ADAMY
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.

Leah Templeton, a spokeswoman for the company, said in an email that the companies that filed bankruptcy cases are popularly known as Steak & Ale, Bennigan's and Tavern restaurants. She said that not all stores using these trade names have filed bankruptcy, and that stores operated by franchisees aren't named as debtors in these filings. She said the filing doesn't include the company's Ponderosa and Bonanza restaurants, which operate under Metromedia Steakhouses Company L.P.

The pub-themed Bennigan's had 310 restaurants in 32 states. It was founded in 1976. It is heavily concentrated in states like Texas, Illinois and Michigan. It posted U.S. sales of $542 million in 2007, according to Technomic Inc., a food-industry research and consulting firm.

The restaurant chains are owned and managed by Plano-based Metromedia Restaurant Group, a unit of billionaire John Kluge's Metromedia empire.

Metromedia also manages Bonanza, Ponderosa and 29 Degrees and Southlake Tavern. The latter two also are closing. 29 Degrees opened in March 2007.

Metromedia Restaurant Group earlier this year violated several terms of a lending agreement with GE Capital Solutions. It had been in negotiations with lenders for months to stave off the filing, while closing some stores and looking for a buyer, said two people involved in the matter.

The filing is the most extreme sign yet of how midpriced sit-down restaurants are undergoing one of their worst periods in decades. High ingredient and labor costs are eating into profits, and several years of rapid expansion by bar and grill chains has left a glut of locations in the market. Pressures on consumer spending like high gasoline prices and dwindling home values have prompted consumers to eat out less often or switch to cheaper fast-food meals.

Earlier this year, the parent companies of the Bakers Square, Village Inn and Old Country Buffet filed for Chapter 11 bankruptcy protection, citing falling sales and rising food costs. A host of other chains -- from Outback Steakhouse to Ruby Tuesday -- are also struggling.

Metromedia has about 750 company and franchised restaurant sites in more than 40 states and outside the U.S., according to its Web site. Its annual U.S. sales are estimated at $1 billion.

Mr. Kluge, a 93-year-old German immigrant with an estimated worth of $9.5 billion, originally bought Bonanza and Ponderosa in the 1980s, later adding the Bennigan's Grill & Tavern and Steak & Ale chains into one umbrella company. Mr. Kluge is chairman, CEO and president of holding company Metromedia Co.

Metromedia's steak houses -- Ponderosa, Bonanza and Steak & Ale -- are concentrated in states including Ohio, Indiana and Pennsylvania. It posted 2007 U.S. sales of $388 million from 370 sites.
Click to expand...
 
D

dskillzhtown

keep your strippers out of my American football
Bennigan's near me really got run down a few years ago. Seemingly they stopped taking care of the place. So the bar was all old and dingy, the chairs were worn, the carpet was old and really in bad shape. The place really needed a makeover in the worse way. I guess I see why now. I guess Chili's came and stole their thunder.

The entire St. Patty's Day "celebration" they had will be missed by many of my friends.
 
P

Phobophile

A scientist and gentleman in the manner of Batman.
Hmm the nearest Bennigan's to me is in a Holiday Inn. I wonder how they're gonna deal with that.
 
H

HamPster PamPster

Member
walking into work and being told I won't be paid anymore is my biggest fear... yet here I am goofing off online during my lunch break (and before my break... and probably after too)

I feel bad for the workers
 
T

TurtleSnatcher

Member
My mom works at the home office where Metromedia is (Not for the them.. she runs a small restaurant inside the office)..

She said many of the employees came in today and found their key cards didnt work to get into the office and were layed off on the spot.

So sad.
 
B

bill0527

Member
pxleyes said:
Isn't that a Darden owned restaurant? If so then yes, it will be fine.
Click to expand...

Yeah Darden owns Olive Garden, Red Lobster, Longhorn Steakhouse, and a few other small chains. They also owned Smokey Bones and they closed the entire chain down last year.

I don't think Olive Garden or Red Lobster are in trouble, at least not in my area. Those places are always packed and at least a 30-minute wait every time I've tried to go to one of them.
 
C

Cianalas

Member
These guys were the worst offenders of grease bun I have ever seen when it comes to burgers. I can't say I'll miss them.
 
P

pxleyes

Banned
bill0527 said:
Yeah Darden owns Olive Garden, Red Lobster, Longhorn Steakhouse, and a few other small chains. They also owned Smokey Bones and they closed the entire chain down last year.

I don't think Olive Garden or Red Lobster are in trouble, at least not in my area. Those places are always packed and at least a 30-minute wait every time I've tried to go to one of them.
Click to expand...
Smokey Bones is still alive and well down here...
 
M

mosaic

go eat paint
beelzebozo said:
cheddar's has a bangin' monte cristo.
Click to expand...
Cheddar's has a monte cristo?! OMG, how long have they had that? The one here didn't as of two months ago, but they've been closed for remodeling since and won't re-open until September.
 
D

dskillzhtown

keep your strippers out of my American football
pxleyes said:
Smokey Bones is still alive and well down here...
Click to expand...


The one near me is closed. I knew a dude working there. They told everyone at the end of the night not to come back.
 
C

Cianalas

Member
mosaic said:
Cheddar's has a monte cristo?! OMG, how long have they had that? The one here didn't as of two months ago, but they've been closed for remodeling since and won't re-open until September.
Click to expand...
My local Cheddar's has always had Monte Cristo, for as long as I can remember them being open.
 
B

beelzebozo

Jealous Bastard
mosaic said:
Cheddar's has a monte cristo?! OMG, how long have they had that? The one here didn't as of two months ago, but they've been closed for remodeling since and won't re-open until September.
Click to expand...

one just opened in my town two months ago, and it's been on the menu since inception. it looks a lot like the picture mac posted: completely coated and deep fried. they cut it into diagonal wedges and set them into little triangle statues of deliciousness on the plate, and it's served with this amazing raspberry coulis that creates a really nice contrast between the saltiness of the meats and the sweetness of the sauce.

highly recommended. just be sure you have your morning jog that day.
 
B

bill0527

Member
pxleyes said:
Smokey Bones is still alive and well down here...
Click to expand...

My bad, I thought they closed the whole chain. Looks like they only closed down 54 stores and sold the other 73 to someone else.
 
Link

Link

The Autumn Wind
I've never even heard of Cheddar's, so I checked the website assuming they aren't anywhere around me, but there's actually one just up the road.
 
T

The_Inquisitor

Member
Cheddars is a great cheaper alternative to basically everything. I can get myself a cheeseburger and fries for 4.50

However, their chicken tenders ARE TO DIE FOR Seriously, I have been ordering them apparently since I was a little kid. :lol :lol Highly recommend em.
 
M

mosaic

go eat paint
Cheddar's is awesome. I'm not sure why our local location doesn't offer a monte cristo, but they have succulent ribs, great potato soup, and a damn killer parmesan-peppercorn burger. Plus, their prices are lower than most sit-down chains. My GF and I usually get out of there on a Friday for around $20 (unless I get the full rack). 'Course, the service is so good that we usually parlay some of that savings into a decent tip. They'll re-fill your drinks so fast you'll think they're trying to drown you.
 
D

djtiesto

is beloved, despite what anyone might say
I remember Bennigan's being slightly decent for chain food back when I was in college, but a visit to the Buffalo area last year and it seemed the place was closed down, replaced with a Friendly's (there weren't any Friendly's in Buffalo before then). Liked their grilled salsa-marinated shrimp and potato skins at the very least. Surprised they're closing, never heard of Steak and Ale though.
 
I

IamMattFox

Member
Bennigan's was kind of cool because they were one of the few restaurants around here that stayed open and served alcohol until two in the morning, but I can't remember ever thinking to myself, "Hey, I'd really like to go to Bennigan's!"

I'd lump it in there with Fridays and Applebee's. I consider those a step down from Chili's, On the Border and other similar food joints.
 
T

TurtleSnatcher

Member
I was just at Steak and Ale this past weekend.. they have this lunch thing with dessert and drink for an awesome price..

Includes all you can eat salad bar, entree (Usually chicken or steak with a side), dessert and drink for $9.99-$11.99

was awesome..
 
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