Bennigan's, Ponderosa Trying To Avoid Ch. 11

Law360, New York (June 4, 2008, 12:00 AM EDT) -- The company that owns the casual-dining chains Bennigan's, Ponderosa and Bonanza has reportedly hired a bankruptcy attorney and prepared a Chapter 11 filing, but it is in talks with a major lender to stave off bankruptcy.

Privately held Metromedia Restaurant Group is conferring with lender GE Capital Solutions about ways to avoid going through with an already-prepared Chapter 11 filing, The Wall Street Journal reported Wednesday.

Earlier this year, GE Capital, a unit of General Electric Co., declared Metromedia in default on a loan after it...
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