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?