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Posted: Wednesday, 30 July 2008 4:58AM
Bennigan's Restautants Closing
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NEW YORK (AP) -- Restaurant chains Bennigan's and Steak & Ale have filed for Chapter 7 bankruptcy protection and stores owned by its parent company will shut their doors.
The companies owned by privately held Metromedia Restaurant Group of Plano, Texas, today filed for bankruptcy protection.
In a Chapter 7 bankruptcy filing, a company seeks to liquidate its assets and shut down.
Locations owned by franchisees were not part of the bankruptcy filing and will not be shut down, according to the president of the Bennigan's Franchise Operator Association. He said there are about 160 domestic and international franchise locations and about 150 company-owned Bennigan's restaurants.
Neither Bennigan's nor the Metromedia Restaurant Group returned calls for comment.
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