Metromedia Restaurant Group
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Metromedia Restaurant Group
The Metromedia Restaurant Group is a United States casual dining company that operates and franchises more than 800 restaurants under the names Bonanza, Ponderosa, 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 businessman John Kluge and is related in lineage to the former entertainment company of the same name.[1]
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.[2] 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.[3] Atalaya Capital Management bought the Bennigan's and Steak and Ale brands and their franchisor later that year.
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
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