Three months after he shut down two of his biggest chain restaurants, John Kluge will sell the Bennigan’s and Steak & Ale brands to private equity firm Atalaya Capital Management. Atalaya managing director Joel Holsinger tells the Associated Press that they intend to revive the Bennigan’s brand by return its emphasis to being a pub, focusing its efforts on serving beer and burgers, and away from “chasing Applebee’s and Chili’s” with more expensive entree items. In July, Kluge’s Metromedia Restaurant Company declared Chapter 7 bankruptcy.