History
Stuart Anderson founded the Black Angus Steakhouse chain with 103 restaurants in 13 states in 1964. As of 2001, each restaurant had approximately 75 employees and served an average of 3,000 customers weekly.
Saga acquired Black Angus in 1972. Marriott acquired Saga in 1987, and sold several of the Saga restaurants to American Restaurant Group.
In September 2005, American Restaurant Group filed for Chapter 11 bankruptcy protection. It was indebted approximately $202 million and had in 2003 reported revenue of $276.6 million resulting in a net loss of $32.5 million. In 1995, the chain had 101 restaurants and reported revenue of $244 million.
In 2010, the Black Angus Steakhouse, which was the ninth franchise built, in Yakima, Washington celebrated its fortieth anniversary. As of June 2012, Black Angus has 45 locations in six states. This location is close to the founder's former ranch.
The parent company of the chain filed for Chapter 11 bankruptcy protection on January 15, 2009, due to the current recession. Purchased by Versa Capital Management Inc., Black Angus Steakhouse emerged from bankruptcy protection during March 2009.
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