Ryan’s Buffet auctioning off remaining assets
Published 12:30 pm Wednesday, August 24, 2016
SALISBURY — Ryan’s Buffet has partnered with Auction Nation to auction off its remaining assets.
Salisbury’s Ryan’s Buffet, located at 730 Jake Alexander Blvd. S., closed suddenly earlier this week without giving prior notice to employees or customers, according to employees at the site on Monday.
The public relations agency for Ovation Brands, Ryan’s Buffet’s parent company, said the restaurant closed “as a result of business decisions.”
Auction Nation, an online auction company, will be selling off the restaurant’s assets online, along with the assets of two other restaurants.
“It is sad to see this location close it’s doors since so many local patrons have been coming here for years.” Sean Doonan, COO for Auction Nation, said in a press release. “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.”
Buffets LLC, the company that owns Ryan’s and other restaurant chains under Ovation Brands, filed for Chapter 11 bankruptcy in March. According to the Consumerist, Ovation Brands has filed for bankruptcy three times in the last eight years.
Seventy-four of the company’s underperforming restaurants were closed across the country in February.
In the press release, Scott Higgins, auction manager, said this was a good chance for others in the restaurant business to purchase equipment.
“Each store contains everything from kitchen equipment and smallwares to furniture and décor,” he said. “To be able to bid on the entire Salisbury Ryan’s Buffet is an amazing opportunity for anyone in the restaurant business.”
The auction is open Aug. 24 through Aug. 25 at noon. Registration is free and open to the public. There will also be an open house preview today from 10 a.m. to 4 p.m. and Thursday from 10 a.m. to noon.
For more details and a schedule of the liquidation auction, visit www.AuctionNation.com.