Ryan's shutters restaurants without staff warnings

ryans exterior sign

Employees of at least eight Ryan’s steak-and-buffet restaurants arrived at work over the weekend to find an announcement posted on the door that their store had closed, according to news reports.

Ryan’s is part of Ovation Brands, a buffet specialist acquired in August by Food Management Partners, an operator of multiple restaurant chains. The closings were followed within a day by Ovation's filing for bankruptcy protection, the second time it has opted for Chapter 11 protection in four years.  Typically businesses under Chapter 11 protection continue to operate until a plan of reorganization is drafted and approved by a bankruptcy court.

FMP said last month that it would close 74 of Ovation’s restaurants, which also operate under the names Old Country Buffet, Homestyle Buffet and Fire Mountain.

The company indicated at the time that some employees would be relocated to other restaurants affiliated with FMP.

It is not clear if the flurry of Ryan’s closings over the weekend was part of that previously announced wave or an additional step to prune the chain of struggling stores. Ovation had not responded for requests for clarification at the time of this posting.

Stores were reported to have closed in Springfield, Mo.;  Elizabethtown, Ky.; Jonesboro, Ark.; Champaign, Ill.; Moline, Ill.; Millington, Tenn.; Augusta, Ga.; and Clive, Iowa

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Financing

Podcast transcript: Virtual Dining Brands co-founder Robbie Earl

A Deeper Dive: What is the future of digital-only concepts? Earl discusses their work to ensure quality and why focusing on restaurant delivery works.

Financing

In the fast-casual sector, Chipotle laps Panera Bread

The Bottom Line: The two fast-casual restaurant pioneers have diverged over the past five years, as the burrito chain has thrived while Panera hit a wall. Here's why.

Food

How Chick-fil-A's shift on antibiotic-free chicken signals an industry evolution

Chick-fil-A was a No Antibiotics Ever brand, but now its standards are more in line with KFC and others. Will consumers understand the nuanced difference?

Trending

More from our partners