(Reuters) - The company that runs Bennigan’s and Steak & Ale chains filed for one of the largest restaurant bankruptcies ever on Tuesday and closed several hundred restaurants, costing thousands of workers their jobs. S&A Restaurant Corp, and three dozen other entities, including various Bennigan’s and Steak & Ale affiliates, submitted Chapter 7 bankruptcy petitions in the U.S. Bankruptcy Court for the Eastern District of Texas. The bankruptcy petition underscores how economic weakness and rising costs in the United States are squeezing mid-tier restaurants. The restaurant chains have grappled with higher food and labor costs while U.S. consumers are trying to cope with higher grocery and gas bills. More
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