Steak and Ale

Steak and Ale

Infobox Defunct company
company_name = Steak and Ale
company_
slogan =
company_type = Private
fate = Filed for Chapter 7 Bankruptcy.
Predecessor =
successor =
foundation = February 26, 1966
defunct = July 29, 2008
location = Plano, Texas
industry = Dining
revenue =
operating_income =
net_income =
products =
key_people =
num_employees =
parent =
subsid =

Steak and Ale was an American chain of casual dining restaurants, operated by S&A Restaurant Group. Steak and Ale was founded as an independent restaurant chain in Dallas, Texas on February 26, 1966 by Norman E. Brinker. The remaining 58 locations closed as part of a Chapter 7 bankruptcy proceeding on July 29, 2008. [cite news|url=http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/073008dnmetbennigans.140b9e44.html|publisher="The Dallas Morning News"|date=2008-07-29|title=Owners abruptly close Plano-based Bennigan's chain]

History

Steak and Ale remained an independent chain until 1976, when Pillsbury purchased it and folded it into its restaurant group with Burger King, Bennigan's and other stores. In 1982, Pillsbury spun the company and Bennigan's into the independent S&A Restaurant Corp. Steak and Ale grew as one of the first chain dinner houses to its height in the late 1980s with 280 locations, before competition that the brand helped inspire eroded its market presence. In 1988, Metromedia purchased the company. In 1993, the company was merged with the Metromedia Steak Houses chains Bonanza and Ponderosa, and all three chains were operated under the S&A Restaurant Group brand.

The S&A Restaurant Corp bankruptcy in July 2008 also affected the Bennigan's restaurant chain, also owned by that company; all of the company-owned stores closed the same day as the Steak and Ale restaurants. Franchised Bennigan's locations remained open. [ [http://money.cnn.com/2008/07/29/news/companies/bennigans_bankruptcy.ap/index.htm?iref=topnews Bankruptcy announcement] ]

The MetroMedia Company also owns the Ponderosa and Bonanza Steakhouse chains, which are not affected by the bankruptcy filing; they are operated by a different subsidiary of the company.

References


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