Wednesday, October 22, 2008


Probably just the beginning for restaurant chains.

NEW YORK (AP) — The owner of the Ponderosa and Bonanza Steakhouse brands said Wednesday it was filing for Chapter 11 bankruptcy protection.

Metromedia Steakhouses Co. L.P., based in Plano, Texas, said it filed voluntarily under Chapter 11, which allows a company to restructure and stay in operation. The petition was filed in the U.S. Bankruptcy Court for the District of Delaware on Wednesday.