Living with credit (693) | New, interesting products (162) | Research, regulation, industry reports (346) | Rewards (62) | Protecting yourself (276) | The fine print (121) | Credit card miscellany (470) | Celebrity Money Watch (14)
Competitors honor Bennigan's, Steak and Ale gift cards
Don't think that you'll have to eat your gift cards just because your local Bennigan's and Steak and Ale are closing.
Some rivals of the now-bankrupt restaurants have decided to
honor the gift cards from their fallen competitors,
according to multiple reports. Logan's Roadhouse, a nationwide chain based in Nashville, Tenn., is offering a free entree, up
to a $15 value, with purchase of another entree. Another national eatery chain, Texas Roadhouse, ironically based in Louisville, Ky., is offering a
free entree, with no value limit, according to DallasNews.com. Meanwhile, Texas-based sandwich shop Texadelphia is also honoring Bennigan's and Steak and Ale
restaurants in at least two of its Dallas-area stores.
However, it's not clear if all of these restaurants' locations will do so, thus be sure to call your nearest location before you visit.
More than 300 Bennigan's and Steak and Ale restaurants closed recently when S&A Restaurants Corp., the parent company, filed for Chapter 7 bankruptcy protection. Still, "138 domestic and international franchisee-owned restaurants were not part of that filing and will remain open," according to a statement from the Bennigan's Franchising Co. LP and the Steak & Ale Franchising Co. LP.
But, according to the South Bend Tribune, you won't be able to use your gift cards at any of the still-open locations. Aaron Freitas, manager of the Bennigan's restaurant in Elkhart, Ind., told the Tribune, "I feel so bad. Hopefully the new company will say we have to honor these gift cards, but we won't know as a franchise unit for a few weeks."
Meanwhile, their competitors are more than willing to take them, which is apparently not uncommon. When retailer The Sharper Image declared bankruptcy, competitor Brookstone announced it would accept Sharper Image gift cards for a 25 percent discount off any purchase in its own stores.
Still, if none of the available options appeal to you, you can always just file for a refund with a bankruptcy court. But with how long it would likely take to see that refund -- if you ever see it at all -- you might be better off turning your card in for a nice steak.
They're the pieces of plastic we love, and love to hate. Get the latest news, tips, research and more from the CreditCards.com staff.
Other Voices and Blogs
Subscribe to Taking Charge