Another one bites the dust. Bennigan’s and Steak & Ale, both owned by Texas-based Metromedia Restaurant Group file for chapter 7 bankruptcy protection. This will result in the closing of more than 300 corporate-owned locations. According to this story from the New York Times, The Ponderosa and Bonanza restaurants, which operate under another entity, Metromedia Steakhouses, were not covered in the bankruptcy.
So, what does this mean for gift card holders? I am not sure. The company is yet to address what will happen to gift cards. I will keep you posted as soon as I hear something. In the meantime, if you have a Bennigan’s or Steak & Ale gift card, try and see if you can still use it while the restaurants remain open.