Bennigan's, Steak & Ale Close, File for Bankruptcy Protection

I was driving around and heard on the radio this morning so I went home and read it on the Wall Street Journal that Bennigan's and Steak & Ale have closed their doors and filed for Chapter 7 , shuttering more than 300 locations and letting go of thousands of employees. This is one of the country's largest restaurant bankruptcies. The chains are liquidating and aren't likely to re-open. Late Monday afternoon mangers were told they were not to open for business the following day and that there wasn't enough money to pay employees the rest of the week.

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