59-year-old casual steakhouse chain closed all its locations
When a national chain closes, it may remain at one or only a few single locations. York Steak House, for example, ceased to be a national chain in the mid-1980s, leaving only one restaurant currently operating in Columbus, Ohio.
This is true for many brands such as Sizzler, Ponderosa and Ground Round. But some of these chains are trying to make a real comeback, including some that are completely bankrupt and haven’t owned a single restaurant in 16 years.
Casa Bonita It was founded in 1968. At one time they had multiple locations in OK, AR and TX. As of 2025, only the Lakewood, Colorado location remains. Source: Casa Bonita
Milled Round Grill & Bar Summit: Dozens of locations across the country. Most of them closed after the bankruptcy in 2004. Only a handful survive today, and most are independently owned. Source: Food Republic
York Steakhouse Peak: 200 locations in the 1980s. He retreated rapidly. Only one location left in Columbus, Ohio. Source: TheStreet
Ponderosa Steakhouse/Bonanza Steakhouse United summit: Hundreds of locations. There are now only 21 locations left in the US Source: TheStreet
Tad’s Steaks Old cheap cafeteria style steakhouse chain. Reportedly only one location left in the US Source: TheStreet
Steak and Beer Peak: 280 positions. It was completely closed in 2008 (Chapter 7 bankruptcy). Today: One or two locations reopened under new ownership. Source: Legendary Restaurant Brands
Chi‑Chi’s Peak: 200+ US locations. It closed all U.S. locations in 2004. Today: A location reopened in Minnesota (2025) as part of the brand’s revival. Source: USA Today
Bennigan’s Peak: More than 150 corporate restaurants. In 2008, most of them closed (bankruptcy). That leaves 21 locations plus a new “On the Fly” concept. Source: TheStreet
Steak and Ale is back after a 16-year hiatus. Shutterstock” loading=”eager” height=”540″ width=”960″ class=”yf-1gfnohs loader”/>
Steak and Ale is back after a 16-year hiatus. Shutterstock
While many of these brands are operated by former franchisees with no plans to make a national comeback, Steak and Ale is different. Paul Mangiamele of Legendary Restaurant Brands acquired Steak and Ale along with Bennigan’s in 2015.
He bided his time but never gave up on his dream of relaunching the chain, which last closed its doors in 2008. This finally happened in July.
“The long-awaited return of the classic Steak and Ale chain is here: Legendary Restaurant Brands officially opened its first new location with a ribbon-cutting ceremony and celebration on July 8. Located at 14201 Nicollet Avenue South in Burnsville, Minnesota, the new restaurant occupies a 5,000-square-foot space inside the Wyndham Nicollet Inn—but has its own exterior entrance and patio—and can seat up to 225 guests.” LRB shared on Bennigan’s website.
Steak and Ale has streamlined its operations but still has the same mission.
According to the company, “Often considered the archetype of casual dining, Steak and Ale was founded in 1966 by Norman Brinker on the premise of offering great steaks at affordable prices and attentive, friendly service in a friendly and comfortable environment. Inspired by the warmth of an English inn, the concept has taken off, reaching a peak of more than 110 locations worldwide.”
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Mangiamele has big plans for Steak and Ale.
“It’s truly a labor of love. I grew up with those brands, too,” Mangiamele said of 59-year-old Steak and Ale and its sister concept (and only other brand founded by Norman Brinker) Bennigan’s.
“They develop very strong emotional connections, and emotional connections in business equal revenue, and in a day when there’s a lot of failure and not a lot of success, the ability to create revenue and high-income restaurants speaks volumes to the emotional connections that were created years ago.”
1966: Founding Steak & Ale was founded on February 26, 1966, in Dallas, Texas, by restaurateur Norman E. Brinker. The concept was conceived as a more accessible steakhouse: serving quality steaks at reasonable prices in a casual, “English inn/Tudor-style” dining atmosphere. The chain pioneered innovations in casual dining, especially the salad bar, which later became standard in many restaurants. Source: Steak and Ale Restaurant
Peak of growth and popularity: (1970s-1980s) During the 1970s and 1980s, Steak & Ale grew steadily, expanding to 280 locations nationwide. Source: FSR Magazine The menu featured signature items like herb-roasted prime rib, “Kensington Club” steak, Hawaiian Chicken (with grilled pineapple), unlimited salad bar, honey wheat bread and more, with a blend of comfort, value and a semi-luxury feel that resonated with many customers. The chain’s atmosphere (dim lighting, Tudor-style décor, intimate dining rooms) and pricing helped define the modern casual-dining steakhouse, positioning it as a “middle ground” between fast food and fine dining. Source: AARP
Decline and bankruptcy: 2008 In 2008, the parent company (then part of Metromedia Restaurant Group/S&A Restaurant Corp) filed for Chapter 7 bankruptcy. As a result, all remaining company-owned Steak & Ale restaurants (58 locations) were closed on July 29, 2008. The closure marks the end of a 42-year period that helped shape casual dining in America. Source: Food Republic
Acquisition and brand inactivity (2013-2015) In 2015, former restaurant executives Paul Mangiamele and his wife, Gwen, purchased Steak & Ale’s intellectual property (brand, recipes, rights) along with its sister chain Bennigan’s. The new company name is Legendary Restaurant Brands, LLC (LRB). Source: Steak and Ale Restaurant For several years, Steak & Ale was essentially dormant, but new owners kept the brand alive (adding select special menu items to Bennigan’s menus) while exploring revival opportunities. Source: Steak and Ale Restaurant
Revival planning and announcement (2023) In early 2023, Steak & Ale revival plans were made public: LRB announced a 15-unit space development deal with a franchise partner (based in the Midwest) to bring Steak & Ale back to the U.S. under a revamped “flashy casual” model. The new version has been repositioned to reflect modern dining expectations, while retaining signature menu items and nostalgic appeal. Source: Steak and Ale Restaurant
2024: First new Steak & Ale Opening in 16 years On July 8, 2024, the first new Steak & Ale location opened: a franchised restaurant (separate entrance, patio, seating for 225) located inside a Wyndham hotel in Burnsville, Minnesota, marking the brand’s official return after a 16-year absence. The reopening reimagines the brand for the 21st-century casual dining market by offering a salad bar, many nostalgic menu items like herb-roasted prime rib and Hawaiian chicken. Source: Steak and Ale Restaurant
Modern positioning and brand strategy (2025) Under the name “new Steak & Ale,” the chain is being marketed as a “swanky casual” concept that appeals to old fans and new diners alike by blending classic brand heritage with updated service, atmosphere and value-oriented pricing. Source: Nation’s Restaurant News As of 2025, the chain is once again accepting franchise applications and appears to be actively rebuilding, suggesting the return is more than symbolic. Source: Steak and Ale Restaurant
Even though the economy is in dire straits, Americans still value restaurants, according to a report from the National Restaurant Association State of the Restaurant Industry 2025.
Consumers prioritize restaurants: The food service industry is projected to reach $1.5 trillion in sales by 2025, and a majority of consumers say they would use restaurants more if they had the money.
Employment opportunities for everyone: The workforce in the sector is expected to increase by 200 thousand jobs by the end of 2025, reaching 15.9 million in total sector employment.
Experience over price: Many restaurant customers, including 64 percent of full-service customers and 47 percent of limited-service customers, say the dining experience is more important than the price of the meal.
Value is remembered: To increase customer traffic, 47% of operators plan to add new discounts, deals or valuable promotions.
Consumers love restaurants: Nine out of 10 adults say they enjoy going to restaurants. Restaurants allow them to enjoy their favorite food with a taste and flavor sensation that they can’t easily replicate at home.
But restaurateurs are struggling with rising costs, according to a survey of restaurateurs. Toast.
profitability is the number one priority; 40% of restaurant operators stated that increasing profitability is their most important goal for the coming year. Inflation, marketing and recruiting top the list of challenges.
Operators sorted inflation (20%), marketing (16%) and sourcing/recruiting (16%) are the top three pain points of their business.
menu prices If inflation continues, it will rise. Almost half (48%) of restaurants plan to increase menu prices if inflation remains a factor to protect margins.
workforce challenges reached a high level. Due to recruitment challenges, 47% of operators are focusing on improving staff productivity to avoid the problem.
This story was first published by . Street He first appeared in the Restaurant episode on November 30, 2025. Add TheStreet at: Preferred Source by clicking here.
