Metromedia Restaurant Group
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Metromedia Restaurant Group is a United States casual dining company that operates and franchises more than 800 restaurants under the names Bennigan's, Bonanza, Ponderosa, Steak and Ale, The Plano Tavern, The Southlake Tavern and the 29 Degree Tavern. Its headquarters are in Plano, Texas. It is part of the Metromedia Company, which is privately owned by billionaire John Kluge and is related in lineage to the former entertainment company of the same name.[1]
[edit] Bankruptcy of S&A Restaurant Group
In late July 2008, the S&A Restaurant Group, a subsidiary of the Metromedia Restaurant Group, filed for Chapter 7 liquidation bankruptcy, and closed over 300 company-owned Bennigan's and Steak and Ale restaurants.[2] The company said that company-owned locations would not reopen, that franchise locations would not be affected, and that the company would continue operations of the Bonanza and Ponderosa Steakhouse chains, which are owned by a different subsidiary, Metromedia Steakhouses Co. LP.[3]
Employees of Bennigans who received paychecks after the bankruptcy subsequently had their payroll checks "bounce" due to Metromedia bank accounts having non-sufficient funds.
[edit] References
- ^ Mike Hughlett, "Bennigan's wake: Hard times for restaurants: Sour economy, rising costs plague industry", Chicago Tribune, July 30, 2008
- ^ Jeffrey McCracken and Janet Adamy, "Bennigan's, Steak & Ale Close, File for Bankruptcy Protection", Wall Street Journal, July 30, 2008
- ^ Lynn Cook, "Company-owned Bennigan's, Steak & Ales close", Houston Chronicle, July 30, 2008
