59-year-old casual steakhouse chain closed all its locations

59-year-old casual steakhouse chain closed all its locations

Daniel Kline

Sun, November 30, 2025 at 11:33 AM EST

7 min read

When a national chain closes, it may linger in the form of one or only a few single remaining locations. York Steak House, for example, stopped being a national chain in the mid-1980s and now only has a single restaurant left operating in Columbus, Ohio.

That's true of a number of brands including Sizzler, Ponderosa, and Ground Round. A few of these chains, however, including one that went fully out of business and did not have a single operating restaurant for 16 years, are attempting to make a real comeback.

Former restaurant chains with only a handful of locations left

Casa Bonita Founded in 1968. Once had multiple locations in OK, AR, and TX. Only the Lakewood, Colorado location remains as of 2025. Source: Casa Bonita
Ground Round Grill & Bar Peak: Dozens of locations nationwide. After bankruptcy in 2004, most closed. Today only a handful survive, mostly independently owned. Source: Food Republic
York Steak House Peak: 200 locations in the 1980s. Declined rapidly. Only one location remains in Columbus, Ohio. Source: TheStreet
Ponderosa Steakhouse/Bonanza Steakhouse Combined peak: Hundreds of locations. Now only 21 locations remain in the U.S. Source: TheStreet
Tad’s Steaks Former inexpensive cafeteria-style steakhouse chain. Only one remaining location reportedly exists in the U.S. Source: TheStreet
Steak and Ale Peak: 280 locations. Closed entirely in 2008 (Chapter 7 bankruptcy). Today: One or two locations reopened under new ownership. Source: Legendary Restaurant Brands
Chi‑Chi's Peak: More than 200 U.S. locations. Closed all U.S. locations in 2004. Today: One location reopened in Minnesota (2025) as part of a brand revival. Source: USA Today
Bennigan's Peak: 150+ corporate restaurants. Closed most in 2008 (bankruptcy). 21 locations remain plus a new "On the Fly" concept. Source: TheStreet

<em>Steak and Ale has come back after a 16-year absence. </em>Shutterstock — *Steak and Ale has come back after a 16-year absence.* Shutterstock

Steak and Ale came back from the dead

While most 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 purchased Steak and Ale, along with Bennigan's, in 2015.

He bided his time, but never gave up the dream of relaunching the chain, which had closed its doors for the last time back in 2008. That finally happened back in July.

"The long-awaited return of classic chain Steak and Ale is here: Legendary Restaurant Brands officially opened the first new location on July 8 with a ribbon-cutting ceremony and celebration. Located at 14201 Nicollet Avenue South in Burnsville, Minnesota, the new restaurant sits in a 5,000-square-foot space inside the Wyndham Nicollet Inn —though it has its own outside entrance and a patio — and can seat up to 225 guests," LRB shared on the Bennigan's website.

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Steak and Ale has modernized its operations but still has the same mission.

"Widely considered the early model for casual dining, Steak and Ale was founded by Norman Brinker in 1966 on the premise of providing great steaks at affordable pricing and attentive, friendly service in an intimate yet comfortable environment. Inspired by the warmth of an English inn, the concept took off and grew to more than 110 locations worldwide at its peak," according to the company.

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Mangiamele has big plans for Steak and Ale.

“It’s truly a labor of love. I grew up with these brands myself,” Mangiamele said of the 59-year-old Steak and Ale and its sister concept (and only other Norman Brinker-founded brand), Bennigan’s.

“They develop very strong emotional connections, and emotional connections in the business world equals revenue, and revenue and the ability to create high-revenue restaurants, in a day where there’s a lot of failure and not a lot of successes, speaks volumes for the emotional connections that were created so many years ago.”

Steak & Ale: Key facts and timeline

1966: Founding Steak & Ale was founded on February 26, 1966, in Dallas, Texas by restaurateur Norman E. Brinker. The concept was designed as a more‑accessible steakhouse: offering quality steaks at reasonable prices in a comfortable, “English‑inn/Tudor‑style” dining atmosphere. The chain pioneered innovations for casual dining notably the salad bar, which later became a standard across many restaurants. Source: Steak and Ale Restaurant
Growth and peak popularity: (1970s-1980s) In the 1970s and 1980s, Steak & Ale grew steadily, expanding to 280 locations nationwide. Source: FSR Magazine Its menu included signature items like herb-roasted prime rib, the “Kensington Club” steak, Hawaiian Chicken (with grilled pineapple), unlimited salad bar, honey‑wheat bread, and more with a mix of comfort, value, and a semi‑upscale feel that resonated with many diners. The chain’s atmosphere (dim lighting, Tudor‑style décor, intimate dining rooms) and pricing positioned it as a “middle ground” between fast food and fine dining, helping define the modern casual‑dining steakhouse. 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 corporate‑owned Steak & Ale restaurants (58 locations) were closed on July 29, 2008. The closure marked the end of a 42-year run that had helped shape American casual dining. Source: Food Republic
Acquisition and brand dormancy (2013-2015) In 2015, former restaurant executives Paul Mangiamele and his wife Gwen bought the intellectual property (brand, recipes, rights) of Steak & Ale, along with its sister chain, Bennigan's. The new company was named Legendary Restaurant Brands, LLC (LRB). Source: Steak and Ale Restaurant For several years, Steak & Ale was essentially dormant, though the new owners kept the brand alive (adding selected signature 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’s revival plans became public: LRB announced a 15‑unit area development agreement with a franchise partner (Midwest-based) to bring Steak & Ale back to the U.S. under a refreshed “polished casual” model. The new version is repositioned to reflect modern dining expectations while preserving 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 inside a Wyndham hotel in Burnsville, Minnesota (with separate entrance, patio, seating for 225) marking the brand’s official comeback after a 16‑year hiatus. The reopening offers many nostalgic menu staples including salad bar, herb‑roasted prime rib, and Hawaiian chicken, reimagining the brand for the 21st‑century casual‑dining market. Source: Steak and Ale Restaurant
Modern positioning and brand strategy (2025) Under the “new Steak & Ale,” the chain is marketed as a “polished casual” concept blending classic brand heritage with updated service, atmosphere, and value-focused pricing to appeal to both past fans and new diners. Source: Nation's Restaurant News As of 2025, the chain is once again accepting franchise applications and appears to be actively rebuilding, indicating that the comeback is more than symbolic. Source: Steak and Ale Restaurant

Steak and Ale faces a challenging market

While the economy has struggled, Americans still value restaurants, according to the National Restaurant Association's State of the Restaurant Industry 2025.

Consumers prioritize restaurants: The food service industry is forecast to reach $1.5 trillion in sales in 2025, and a strong majority of consumers say they would use restaurants more if they had the money.
Employment opportunities for all: The industry workforce is projected to grow by 200K jobs, for total industry employment of 15.9 million by the end of 2025.
Experience over price: Many restaurant customers — including 64% of full-service customers and 47% of limited-service customers — say their dining experience is more important than the price of the meal.
Value remains top of mind: To drive customer traffic, 47% of operators plan to add new discounts, deals, or value promotions.
Consumers love restaurants: Nine in 10 adults say they enjoy going to restaurants. Restaurants allow them to enjoy a favorite meal that has flavor and taste sensations they can’t easily replicate at home.

Restaurant operators, however, are struggling with rising costs, according to a survey of restaurant operators from Toast.

Profitability is priority number one; 40% of restaurant operators cited improving profitability as their top goal for the coming year. Inflation, marketing, and hiring top the list of challenges.
Operators ranked inflation (20%), marketing (16%), and sourcing/hiring (16%) as their top three business pain points.
Menu prices are on the rise if inflation continues. To protect their margins, nearly half of restaurants (48%) plan to increase menu prices if inflation continues to be a factor.
Labor challenges hit a high. With hiring difficulties, 47% of operators are focused on increasing staff efficiency to get ahead of the problem.

This story was originally published by TheStreet on Nov 30, 2025, where it first appeared in the Restaurant section. Add TheStreet as a Preferred Source by clicking here.

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