McCain administration treasury secretary to be Phil Gramm's "mental recession" continues: Bennigan's and Steak & Ale close doors & file for Chapter 7.

The Wall Street Journal reports that restaurant chains Bennigan's and Steak & Ale closed their doors and filed for Chapter 7 bankruptcy protection, shuttering more than 300 locations and letting go of thousands of employees. It is one of the U.S.'s largest restaurant bankruptcy filings and eliminates two sit-down chains that have been part of the casual-dining landscape for decades.