Ryan's Buffet in Denham Springs closed after company files for b - WAFB 9 News Baton Rouge, Louisiana News, Weather, Sports

Ryan's Buffet in Denham Springs closed after company files for bankruptcy

(Source: WAFB) (Source: WAFB)
(Source: WAFB) (Source: WAFB)
DENHAM SPRINGS, LA (WAFB) -

Hometown Buffet, Inc. which owns Ryan’s restaurants and a few other restaurant brands, filed for chapter 11 bankruptcy protection on Monday.

A total of 92 stores were closed immediately and 74 others were closed a few weeks ago. The Denham Springs Ryan’s was one of the locations closed on Monday. Other restaurants owned by Hometown Buffet, Inc. include Buffets, Fire Mountain and Tahoe Joe’s.

This is part of over 90 store closures nationwide by Buffets LLC which is comprised of Ryan’s Buffet, HomeTown Buffet, Country Buffet, Fire Mountain Buffet, and Old Country Buffet.  Buffets LLC is set to file Chapter 11 bankruptcy so that it can restructure its debts and liabilities, strengthen its operations by closing certain weaker restaurants and recapitalize its business.  Taking only a few items to other locations, all remaining assets of the Ryan’s Buffet in Denham Springs LA along with many of the other stores will be auctioned off in an online auction through the website www.AuctionNation.com.

There are still two locations still open in Louisiana. They're located in Lake Charles and Ruston.

In a news release issued Tuesday, officials with Auction Nation say the remaining assets are being offered to the general public through a strategic partnership with Auction Nation, a national online auction company.

"It is sad to see this location close it's doors since so many local patrons have been coming here for years," says Sean Doonan, COO for Auction Nation.  "This is an amazing opportunity not only for people in the restaurant industry, but for patrons and the general public alike to bid on and purchase the assets from Ryan’s Buffet."

All bidding will take place on the AuctionNation.com website and is online now through Wednesday 3/9/2016, at 3 p.m. EST. Registration is free, open to the public. There will be an open house preview Wednesday from 10 a.m. until the end of the auction. For full details and a complete schedule of the Denham Springs Ryan’s Buffet Liquidation Auction visit www.AuctionNation.com.

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