by Calculated Risk on 7/29/2008 12:27:00 PM

From the WSJ: Bennigan's, Steak &Ale Close Doors, File for Bankruptcy Protection (hat tip Michael)

Long-time, national restaurant chains Bennigan's and Steak & Ale have closed their doors and filed for Chapter 7 bankruptcy protection, shuttering more than 300 sites and letting go of thousand of employees.

It is one of the country's largest restaurant bankruptcies ... The chains will liquidate and are not likely to re-open.

More empty space available. More bad debt. More consumer ripples.