Tuesday, July 29, 2008

Chronicles Of Depression 2.0: #172

Bennigan's Restaurants Shut Down Nationwide
CHICAGO (CBS) ― Customers showing up for lunch at Bennigan's restaurants in Chicago and across the country found quite a surprise Tuesday morning, when all the corporate-owned locations had signs on display reading "closed for business."

As CBS 2's Joanie Lum reports, Bennigan's Grill and Tavern closed all of its corporate-owned locations nationwide after filing for bankruptcy. Independent franchises remain open for business as usual.

Emphasis added by me.

The corporate-owned locations comprise about half the entire chain.

Managers said the mass-shutdown went into effect at midnight Monday night, and there was no warning.

Emphasis added by me.

How's that for employer loyalty? Eh?
CBS 2 Legal Analyst Irv Miller explains that Chapter 7 bankruptcy means the company is being liquidated, as opposed to Chapter 11 bankruptcy, in which a company tries to reorganize and remain in business.

Miller said a Chapter 7 filing usually means a company has "major league debt," and it is unlikely that employees would get their last paycheck.

Emphasis added by me.

Hey, these bastards ought to be thrown in prison for that. How come if an employee is caught stealing, they get prosecution? But these corporate bastards can enslave their employees and get off the hook? No pay = enslavement, Jack! How about a Federal prosecutor getting them for violating the Constitutional Amendment against involuntary servitude? And it damn well was involuntary -- the employees were never asked!

How many other corporate bastards are out there planning this shit now? They shouldn't be allowed to get away with it!

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