Bennigan's and Steak & Ale Have Filed for Bankruptcy

J Thomas Black
Board Certified, Consumer Bankruptcy Law- Texas Board of Legal Specialization

The Wall Street Journal reports that Bennigan’s restaurant and Steak & Ale have filed for Chapter 7 bankruptcy today and are going out of business, closing numerous stores and releasing thousands of employees. It happened with very little warning, store managers getting calls last night, not to open today. Apparently franchise owned stores may stay open.