Ground Round Closes Locations

<b></b>

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Braintree, Massachusetts-All 75 -owned Ground Round Grill & Bar closed suddenly February 13, following a bank loan by American Hospitality Concepts Inc., owner of the casual-dining chain, sources indicated. All company-owned assets and properties are set to be seized, and all corporate employees have been terminated, one source close to the situation said.

Franchised units of , which had about 130 restaurants in the United States and , are still open. AHC officials could not be reached for comment by press time.

Ground Round was founded in 1969 by hospitality company Howard Johnson. In 1997, backed by Boston Ventures Management, AHC acquired Ground Round. -Nation's News

More from Entrepreneur

We created the Start Your Own Business (SYOB) course to help you get started on your entrepreneurial journey. You will learn everything you need to know about testing the viability of your idea, writing a business plan, raising funds, and opening for business.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Are you paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.

Latest on Entrepreneur