Metromedia emerges as Homestyle Dining LLC
Metromedia Steakhouses Co., parent of the Ponderosa and Bonanza brands, has emerged from year-long Chapter 11 bankruptcy proceedings under a new name, Homestyle Dining LLC. Bob Hoffman, who remains as president of Homestyle Dining, said the company has streamlined its operations while in bankruptcy, reorganizing around “a profitable core” of 256 company-owned and franchised restaurants.
“We are quite pleased to have emerged from Chapter 11 as a stronger, more financially stable company," said Hoffman. “Given the challenging economic conditions currently facing many of the communities in which we operate, we strongly believe, now more than ever, that consumers want big value for the money and that's what our dining experience offers.”
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