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PLANO, TX-S&A Restaurant Group, a subsidiary of privately owned Metromedia Restaurant Group, has filed for Chapter 7 bankruptcy liquidation, immediately closing its company-owned units around the country. Affected are approximately 300 Bennigan’s, Steak & Ale, and Tavern restaurants.

Franchised-owned restaurants are not included, nor are the Ponderosa and Bonanza steakhouse chains, which operate under another subsidiary. Local published reports varied from immediate closings to other units opening today.

In the filing with the Eastern District of Texas, the company lists $100 million to $500 million in assets and $10 million to $50 million in liabilities. In June, the company put 59 Florida restaurants up for sale. At that time, Metromedia had said it was looking to restructure its debt, and had not prepared to file for bankruptcy. However, the Wall Street Journal recently reported that Metromedia Restaurant Group had violated terms of a lending agreement with GE Capital Solutions. Metromedia operates or franchises about 800 restaurants.

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