Bonds News

Bennigan's Franchising seeks to buy restaurants

NEW YORK, Aug 11 (Reuters) - The owner of the Bennigan’s Grill & Tavern franchises said on Monday it is undertaking a program for franchisees to buy some corporate-owned restaurants that were closed as part of the owner’s recent bankruptcy filing.

Bennigan’s Franchising Co, which was not part of the bankruptcy filing, said it has hired several people to help move the restaurants’ operations forward as a franchise-focused brand.

In addition to buying some corporate-owned restaurants, the company said franchisees are opening new locations, adding to the 132 domestic and international Bennigan’s locations that are owned by franchisees and remain open. (Reporting by Martinne Geller, editing by Gerald E. McCormick)