Benningan’s abruptly closed all their corporate-owned locations today. Why? Bankruptcy. But franchises will remain oepen.

Bennigan’s spokeswoman Leah Templeton said both Bennigan’s and Steak & Ale restaurants are heading to bankruptcy plus holding company S&A Restaurant Corp.

In fact, reportedly some analysts feel that because Bennigan closed with a Chapter 7 bankruptcy, this suggests ” “major league debt,” and it is unlikely that employees would get their last paycheck. He said someone could conceivably buy the assets and reopen the full Bennigan’s chain, but that would only be after a long, drawn out court process. … Bennigan’s was founded in 1976. The restaurant has locations in 32 states.”