Bennigan's: Still here
Bennigan's
Plano, Texas
Plano, Texas
The restaurant chain closed all of its corporate locations when it filed for Chapter 7 in July 2008. Its 138 franchisees were left in PR hell, struggling to convince patrons that they were still open for business.
In October 2008, the Eastern District of Texas' bankruptcy court approved the acquisition of Bennigan's by private equity firm Atalaya Capital, which quickly swept in to reopen the closed corporate stores. The effort has been a success -- many franchisees now own and operate former corporate stores in cities such as Santa Clara, Calif.; Charleston, W.Va. and Chicago.
NEXT: Left in limbo
LAST UPDATE: Jul 21 2009 | 4:01 PM ET
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