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Bennigans is back.

The middle-of-the-road food chain declared bankruptcy in July. Last week, a judge approved a deal that would turn control of the outfit over to Atalaya Capital Management.

If I’m reading City Desk right, Atalaya is the same company that is owed most of the $40 million debt declared by City Paper‘s current owner, Creative Loafing, when the newspaper chain filed Chapter 11 bankruptcy in September.

So what does this convergence mean?

Will we at City Paper soon be able to get great deals on Bennigan’s staples like the Kung Pao Chimichanga™ and Death By Chocolate™?*

Or will the post-takeover Bennigan’s eliminate those items from the menu, along with anything else customers ever expected from the place, and force its chefs to tell wait staff and patrons that restaurant chains are in a fast-food-or-die environment, so they all better damn well learn to love Happy Meals™?

Stay tuned!

*I’m not sure that the Bennigan’s menu ever really included a Kung Pao Chimichanga™ or Death By Chocolate™. But for the purposes of this posting, they sound about right.