Red Lobster seeks bankruptcy protection after closing some restaurants
Release time：2024-05-21 08:20:53 Source：Worldly Wave news portal
Red Lobster, the casual dining chain that brought seafood to the masses with inventions like popcorn shrimp and “endless” seafood deals, has filed for Chapter 11 bankruptcy protection.
The 56-year-old chain made the filing late Sunday, days after shuttering dozens of restaurants.
“This restructuring is the best path forward for Red Lobster. It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth,” said Red Lobster CEO Jonathan Tibus, a corporate restructuring expert who took the top post at the chain in March.
Red Lobster said it will use the bankruptcy proceedings to simplify its operations, close restaurants and pursue a sale. As part of the filings, Red Lobster has entered into a so-called “stalking horse” agreement, meaning it plans to sell its business to an entity formed and controlled by its lenders.
- Previous：Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue
- Next：Six killed in a 'foiled coup' in Congo, the army says
Related articles
- Yvette Fielding says her Most Haunted co
- Aaron Brooks defeats wrestling gold medalist David Taylor, who loses his Olympic roster spot
- Ingenious ways to escape boring conversations without appearing rude
- Portland downs Dash 4
- Yvette Fielding says her Most Haunted co
- First aid consignment via Cyprus corridor departs for Gaza
- Britain's Got Talent winners
- First baseman Nathaniel Lowe back with Rangers after missing first 20 games with oblique strain
- Liverpool confirms Arne Slot as Jurgen Klopp's replacement
- The ultimate tiger mum: Watch a tigress's heart
- Company wins court ruling to continue development of Michigan factory serving EV industry
- Zelensky, Stoltenberg agree to hold urgent meeting of Ukraine
- Jeremy Clarkson leads emotional tributes as BBC Top Gear legend dies aged 80
- First aid consignment via Cyprus corridor departs for Gaza
- Britain's new bonkers EV: Callum Skye is an £80k electric buggy built in Warwickshire
- Ober throws 6 solid innings as Twins stop 5
- Haiti violence: Haitians scramble to survive as gang violence chokes capital
- Masters champ Scottie Scheffler posts a 63 and leads the RBC Heritage by 1 shot
- College baseball notebook: Conference tournaments to decide NCAA automatic bids and many at
- Toronto's Nylander out for Game 1 against Bruins
Random recommendation
- Copyright © 2024 Powered by Red Lobster seeks bankruptcy protection after closing some restaurants ,Worldly Wave news portal sitemap