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.
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