Gone: Bennigans, Steak & Ale
Metromedia Restaurant Group, the parent company of Bennigan's and Steak & Ale, abruptly declared Chapter 7 bankruptcy yesterday and more than 300 locations nationwide were immediately closed. A few privately owned franchises will remain open for now. Industry watchers knew Metromedia was in trouble, but were shocked at how quickly the shut-down came. Other national casual dining chains may follow suit in the months to come.