Two months ago, we reported the end of restaurant chains Bennigan's and Steak & Ale. Well, we've just learned that they're coming back to life! Private equity firm Atalaya is buying the two brands and their trademarks. It will partner with the Bennigan's franchises still standing to grow business, as well as try to reopen company-owned Bennigan's locations that closed after the bankruptcy.
The Steak & Ale brand closed in its entirety during bankruptcy, but Atalaya intends to leave the option open in the future for franchisees to open independently-operated Steak & Ale restaurants.
According to Atalaya managing director Joel Holsinger, the key to success this time around will be the new menu that's being developed: it will focus on quick pub fare, such as sandwiches, burgers, onion rings, and booze.
While I haven't been to a Bennigan's or Steak & Ale in years, some of you must be excited to hear about your Bennigan's potentially reopening. Do you think the menu overhaul will make the chain profitable again?
i do think that there's something there - i think that it's more than just a menu overhaul that will be needed to get people back in the doors. there are SO MANY chains out there that are competition and i think that in order to get people back in, they need to rebrand and really make people want to come to the restaurant. when i was younger we used to go to bennigans ALL THE TIME but i think that some of the locations were so 'beat up' that it turned into a place that i wasn't as excited to go to.
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