Bankruptcy of S&A Restaurant Group
Metrommedia Restaurant Group also formerly operated certain Bennigan's and Steak and Ale under the S&A Restaurant Group division. This division was forced into an involuntary Chapter 7 liquidation by its lender, GE Capital, in August 2008, and closed over 300 company-owned Bennigan's and Steak and Ale restaurants. The franchise-owned Bennigan's locations were not named as debtors in the bankruptcy and continued to operate, nor were the Bonanza and Ponderosa Steakhouse chains, operated by a different subsidiary, Metromedia Steakhouses Co. LP, affected by the filing. Atalaya Capital Management bought the Bennigan's and Steak and Ale brands and their franchisor later that year.
Read more about this topic: Metromedia Restaurant Group
Famous quotes containing the words bankruptcy of, bankruptcy, restaurant and/or group:
“Disappointment is a sort of bankruptcy—the bankruptcy of a soul that expends too much in hope and expectation.”
—Eric Hoffer (1902–1983)
“Disappointment is a sort of bankruptcy—the bankruptcy of a soul that expends too much in hope and expectation.”
—Eric Hoffer (1902–1983)
“In a restaurant one is both observed and unobserved. Joy and sorrow can be displayed and observed “unwittingly,” the writer scowling naively and the diners wondering, What the hell is he doing?”
—David Mamet (b. 1947)
“The government of the United States at present is a foster-child of the special interests. It is not allowed to have a voice of its own. It is told at every move, “Don’t do that, You will interfere with our prosperity.” And when we ask: “where is our prosperity lodged?” a certain group of gentlemen say, “With us.””
—Woodrow Wilson (1856–1924)