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Ponderosa, Bonanza Latest Chains To File For Ch. 11

Law360 (October 23, 2008, 12:00 AM EDT) -- A rough year for the casual dining industry has claimed two more victims, as the parent company of the Ponderosa and Bonanza steak house chains filed for Chapter 11 protection Wednesday.

Metromedia Steakhouses Co. LP filed the petition in the U.S. Bankruptcy Court for the District of Delaware. The company is the second restaurant-centered unit of Metromedia Co. to file for bankruptcy this year, after the parent company of Bennigan's and Steak and Ale filed in July.

Ponderosa and Bonanza restaurants will continue to operate, and...
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