Jeffry Davis, a bankruptcy attorney at Mintz Levin in San Diego who is not involved in the filing, said he was surprised the company didn't file for Chapter 11 protection, which would have allowed it to reorganize and remain open, and instead filed to liquidate its assets.
"Typically, at that point, management sees no way to improve the business within a reasonable period of time to allow it to go forward," he said. "To me it's really indicative of the economy."
The news appeared to be a shock to most of the company's employees, but some may have had an inkling that the company was not doing well.
Steve, the Bennigan's waiter in Plano, said he recently went from making $30 on a good lunch shift to only $10.
"Business has been slow," said Steve, who said he relies on tips. "I went from making a lot of money on a shift to making very little.
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What about employee's who were given no notice of the closing. It's a same a billionaire is allowed to hang on to his money while giving the shaft too so many who need the money earned at Bennigan's to survive.
Bennigan's shuts down for owing 50 G's? This don't make sense. Hell, I'll buy the chain for 50 G's!
MEDIA Just a year after buying The Wall Street Journal, the press rapscallion has revitalized the fusty paper.
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