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after the closure of 8 of those units. Buffets LLC, which is an affiliate of Food
Management Partners, paid an undisclosed amount in August 2015 for Old Country Buffet, Ryan's, Fire Mountain and Tahoe Joe's, in addition to HomeTown. According to court documents, 150 restaurants that were operated by those chains were part of the bankruptcy filing. According to a court filing by Ovation, the company had $ 186.3 million in liabilities and $ 160.2 million in assets.
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477:. Although all restaurants were said to be staying open and continuing to operate normally under the then-current reorganization plan, the company called for the immediate closing of 52 stores nationwide, effective February 12, 2008. The final day of normal business operations in these stores, as well as the announcement of closing to all team members in said stores, took place the previous day.
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On March 7, 2016, Ovation Brands filed for
Chapter 11 bankruptcy after closing dozens of locations. The bankruptcy was blamed on a lawsuit that had not been disclosed when the current owner bought the businesses in August 2015. The landlord of 16 of Ovation's locations sued the company in February
629:
After the 2020 COVID-19 pandemic, most Old
Country Buffet restaurants closed. The parent company Fresh Acquisitions, LLC and Buffets LLC filed bankruptcy again. In bankruptcy its IP was sold as a combination with other IP's. The new owners indicated they were uninterested in reopening any stores
462:
Buffets Inc. in the late 1990s posted a net income of $ 28.6 million in 1997 and $ 39.4 million in 1998, on revenues of $ 808.5 million and $ 868.9 million, respectively. In 1998, the company increased the number of company-owned restaurants from 360 to 386. Part of this increase came from the
387:
The company's restaurants included steak-buffets, as well as steakhouse restaurants with menus that range from grilled-to-order steaks, single-serve dishes, scratch-made soups, entrees and desserts, beverage bars, buffets, chops and grilled seafood, and others. It was previously known as
495:, all of the buffet-style restaurants closed in March 2020. Five locations reopened as "AYCE Marketplaces" in summer 2020. As of January 15, 2021, all Old Country, HomeTown, and Ryan's Buffet locations have permanently closed, and nearly all have been auctioned off by Auction Nation.
647:
Ryan's was founded by Alvin A. McCall in 1977. It was acquired by
Buffets, Inc. on November 1, 2006. Some of its accolades include being one of the "Best Small Companies in America" seven consecutive years, and named "Top Family Steakhouse in America" for 10 consecutive years.
483:
On
January 18, 2012, Buffets, Inc. filed for Chapter 11 bankruptcy protection again. This involved the immediate closure of 81 restaurants throughout the country and recapitalizing in an agreement with its lenders that would convert debt into a controlling equity stake.
638:
At one time, there were more than 250 restaurants open under the HomeTown Buffet brand, primarily in the West Coast and
Northeast regions. In the late 1990s, several restaurants rebranded from Old Country Buffet to HomeTown Buffet when the two chains merged.
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On
November 1, 2006, Buffets Inc. acquired Ryan's Restaurant Group, adding 340 Ryan's Grill Buffet and Bakery and Fire Mountain Grills locations.
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after acquiring the brand making the restaurant now non-existent. At one time, there were more than 600 Old
Country Buffet restaurants.
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On April 28, 2009, Buffets Inc. emerged from
Chapter 11 reorganization with reduced debt along with a new board of directors.
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The last one to close was a location in 988 Goodman Rd, Horn Lake, Mississippi 38637 that has been replaced by a
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The company was founded by Roe Hatlen and C. Dennis Scott on
October 19, 1983, along with Dermot Rowland and
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acquisition of 11 eating establishments from Country Harvest Buffet Restaurants, Inc., for $ 5.6 million.
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All of their Old Country Buffet, HomeTown Buffet, Ryan's Buffet, and Curry House locations have closed.
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Scott left in 1989 to start HomeTown Buffet, but the two chains merged in September 1996.
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Ryan's Restaurants once had more than 400 locations primarily in the South and Midwest.
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813:"Hometown Buffet, Old Country Buffet & Country Buffet - Restructuring Info"
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List of banks acquired or bankrupted during the Great Recession
882:"HomeTown Buffet, affiliated dining chains file for bankruptcy"
448:. Rowland and Jensen left in 1986 to start Homestyle Buffet in
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Dodd–Frank Wall Street Reform and Consumer Protection Act
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855:"Restaurant operator Buffets lands in bankruptcy again"
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Companies that filed for Chapter 11 bankruptcy in 2021
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Companies that filed for Chapter 11 bankruptcy in 2016
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Companies that filed for Chapter 11 bankruptcy in 2012
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Companies that filed for Chapter 11 bankruptcy in 2008
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National fiscal policy response to the Great Recession
968:"Bankrupted Ryan's Steakhouse shuts down 81 eateries"
719:"Bloomberg Company Overview of Ovation Brands, Inc"
536:. Unsourced material may be challenged and removed.
49:. Unsourced material may be challenged and removed.
1562:(Europe, Middle East and North Africa, Asia; 2009)
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831:"Buffets Holdings, Inc. Emerges from Chapter 11"
643:Ryan's Buffet and Grill/Ryan's Restaurant Group
377:chain restaurants including subsidiary company
1413:American Recovery and Reinvestment Act of 2009
1278:Office of Federal Housing Enterprise Oversight
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1337:Emergency Economic Stabilization Act of 2008
469:On January 22, 2008, Buffets Inc. filed for
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1428:Fraud Enforcement and Recovery Act of 2009
1352:Term Asset-Backed Securities Loan Facility
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1677:American companies disestablished in 2022
1608:Effects of the Great Recession on museums
1438:Housing and Economic Recovery Act of 2008
1322:China–Japan–South Korea trilateral summit
919:. Minneapolis / St. Paul Business Journal
782:. Buffets. Retrieved on October 18, 2013.
596:Learn how and when to remove this message
109:Learn how and when to remove this message
1302:Government policy and spending responses
1268:Government National Mortgage Association
773:"Old Country Buffet CEO goes undercover"
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1317:Banking (Special Provisions) Act 2008
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534:adding citations to reliable sources
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334:Food Management Partners (2015–2020)
47:adding citations to reliable sources
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1523:Collateralized mortgage obligations
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416:Old Country Buffet logo (1983–2020)
336:Fresh Acquisitions, LLC (2020–2022)
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1717:Private equity portfolio companies
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1618:2007–2008 world food price crisis
1418:Chinese economic stimulus program
1403:2008 European Union stimulus plan
1327:Commercial Paper Funding Facility
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892:from the original on 7 March 2016
729:from the original on 9 March 2016
369:, was an operator of a number of
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1646:List of countries by public debt
1273:National Asset Management Agency
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432:HomeTown Buffet logo (1989–2020)
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1601:2008 Central Asia energy crisis
1518:Collateralized debt obligations
1013:from the original on 2018-08-16
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755:from the original on 2009-01-13
749:"Ryan's Corporate Headquarters"
521:needs additional citations for
424:Country Buffet logo (1983–2018)
307:Ryan's Grill, Buffet and Bakery
34:needs additional citations for
1722:Companies based in San Antonio
1408:2008–2009 Keynesian resurgence
1253:Federal Housing Finance Agency
1248:Federal Housing Administration
1034:www.Buffet.com/ Buffet Website
911:Kelly, Brianna (Oct 6, 2021).
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408:Buffets, Inc. logo (1983–2013)
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1423:Economic Stimulus Act of 2008
1357:Troubled Asset Relief Program
1283:Office of Financial Stability
1258:Federal Housing Finance Board
1192:Société Générale trading loss
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1342:Irish emergency budget, 2009
857:. Reuters. 18 January 2012.
16:American restaurant national
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1641:2007–2008 financial crisis
1533:Mortgage-backed securities
1144:Automotive industry crisis
938:Buffets merges with Ryan's
880:Hals, Tom (7 March 2016).
700:List of buffet restaurants
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141:Ovation Brands (2013–2020)
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1173:Banking losses and fraud
1164:Subprime mortgage crisis
1149:California budget crisis
1574:(worldwide; 2011–2012)
1513:Auction rate securities
1243:Federal Home Loan Banks
673:has three locations in
1263:Federal Reserve System
1137:United States-specific
685:had nine locations in
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169:; 40 years ago
1613:Decline of newspapers
1560:2009 May Day protests
1506:and financial markets
1396:Stimulus and recovery
1007:"Company Information"
843:on September 7, 2012.
819:on February 14, 2008.
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167:October 19, 1983
1636:European debt crisis
1528:Credit default swaps
1504:Securities involved
1310:stability and reform
954:May 1, 2009, at the
530:improve this article
43:improve this article
1596:2000s energy crisis
1308:Banking and finance
1226:Government entities
1039:Tahoe Joe's Website
949:Company Information
917:www.bizjournals.com
794:Company Information
237:Number of locations
123:
1682:Buffet restaurants
1578:Occupy Wall Street
1554:Tea Party protests
1212:Scott W. Rothstein
972:timesfreepress.com
778:2013-10-21 at the
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1568:(MENA; 2010–2012)
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974:. 21 January 2012
801:on March 18, 2007
671:Famous Steakhouse
662:Other restaurants
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545:"VitaNova Brands"
493:COVID-19 pandemic
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1566:Arab Spring
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1207:Tom Petters
888:. Reuters.
682:Curry House
669:Tahoe Joe's
491:Due to the
363:San Antonio
361:, based in
332:(1983–2015)
330:Independent
319:Restaurants
310:Tahoe Joe's
267:Allen Jones
247:Area served
220:San Antonio
159:Restaurants
1661:Categories
1017:2016-10-01
978:2021-03-08
865:21 January
759:2009-06-08
706:References
687:California
675:California
556:newspapers
475:Chapter 11
471:bankruptcy
450:Clearwater
289:steakhouse
264:Jason Kemp
257:Key people
185:Roe Hatlen
174:1983-10-19
150:Subsidiary
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1082:By region
723:Bloomberg
619:Ann Arbor
373:national
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1482:Chrysler
1094:Americas
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1121:Iceland
923:3 April
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886:Reuters
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733:9 March
570:scholar
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