Retailers, consumers and prices
The “get your green on” celebration will run through April and highlight the 113-restaurant chain’s new menu and direction.
“It’s a new day at Bennigan’s,” said Vince Runco, chief executive of Bennigan’s Franchising Co. “We’re returning to our roots as a relaxing neighborhood tavern where you can take a break from the daily grind.”
Holding company S&A Restaurant Corp and three dozen other entities, including various Bennigan’s and Steak & Ale affiliates, submitted Chapter 7 bankruptcy petitions in July, seeking to sell assets.
Bennigan’s Franchising Co, owner of the Bennigan’s and Steak & Ale trademarks and franchise agreements, was not part of the Chapter 7 filing.
A group led by Fortress Investment Group bought Bennigan’s Franchising Co and other assets, including the Tavern and Steak & Ale brands, late last year. The new owners have since opened five new restaurants and reopened five formerly closed locations.
Restaurant companies, particularly those in the bar & grill segment where Bennigan’s operates, have faced dim fortunes as diners cut back on spending on meals outside home in the recession.