Red Lobster seeks bankruptcy protection after closing some restaurants
Release time：2024-05-21 06:31:15 Source：Planet Perspective 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：Candice Swanepoel stuns in a form
- Next：Travis Kelce downs whiskey shot on slice of bread at Kelce Jam without Taylor Swift
Related articles
- Rangers are undefeated at .500 to keep World Series champs from a losing record with Bochy
- PAP Helping Spring Bud Girls Make a Bright Future
- Japan consolidates track cycling dominance with 3 more golds at Asiad
- Promoting Greater Understanding of TCM Culture in France
- Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue
- A Couple's Efforts to Build a Strong Aviation Country
- Illuminating Children's Minds
- Hard shoulders should be brought back on smart motorways to make them safer, the RAC urges
- Celebrity birthdays for the week of May 26
- Virtues 'Cultivate' Family Members into Better People
- Celebrity birthdays for the week of May 26
- Decades of Safeguarding Mountains, Forests
- Chinese Painting Techniques Inspire Indian Painter
- Calls for Universal Credit to be reformed as the number of those on long
- Adams, Reyna, Turner, Ream are US concerns ahead of Copa America
- Illuminating Children's Minds
- Ordinary Lives Shine Bright with Love
- Beijing Carved Porcelain Embodies Unique Artistic Charm
- Minnesota Uber and Lyft driver pay package beats deadline to win approval in Legislature
- Woman Guards 'Neurons' of China's High
Random recommendation
- Copyright © 2024 Powered by Red Lobster seeks bankruptcy protection after closing some restaurants ,Planet Perspective news portal sitemap