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Ryan's Restaurant assets listed for auction after closing this week

An Elkhart restaurant that closed abruptly this week, leaving dozens of people out of work, is now up for auction, according to online listings at Auction Nation

Assets of Ryan’s Restaurant in Elkhart and other businesses owned by Buffets LLC are listed for sale online through Auction Nation, with bids accepted through 3 p.m. Wednesday. The auction is open to the public and registration is free.

Ryan’s was one of more than 90 restaurants closed nationwide by Buffets LLC thanks to bankruptcy proceedings. That includes places like Old Country Buffet and HomeTown Buffet.

The closure was expected, according to Elkhart employees, but came without much warning. People who showed up for work Sunday were turned away by a “CLOSED” sign on the door.

“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,” according to a company statement released this week. “Customers will continue to enjoy the same quality food and service as prior to the proceedings, and vendors will be largely unaffected.”

Flavor 574 has reached out to Buffets LLC for confirmation of the auction.

Tori Fater is a reporter for the Elkhart Truth and writes for Flavor 574.

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