Red Lobster seeks bankruptcy protection after closing some restaurants
Release time：2024-05-21 08:55:11 Source：Worldly Weaves 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：Kevin Pillar gets 1,000th career hit in Angels' win at Texas
- Next：Yvette Fielding says her Most Haunted co
Related articles
- Biden says Brown v. Board of Education ruling was about more than education
- The tall man in a van taking the plunge around Aotearoa
- Daylight saving: When it ends, why we observe it and how to change the time on your phone
- Forget the gym bunny
- Target to lower prices on basic goods in response to inflation
- Department of Conservation 'spread too thin', Penny Nelson tells select committee
- Pure Tūroa gets 10
- 'Shaky' times for scientific research with decade
- Minnesota Uber and Lyft driver pay package beats deadline to win approval in Legislature
- Strong winds linger after storm blows through much of country
- Investigators return to Long Island home of Gilgo Beach serial killing suspect
- What the long
- 'An amazing opportunity'
- Iran vows revenge on Israel after Damascus embassy attack
- Ricky Stenhouse punching Kyle Busch could lead to suspension
- Man who went missing while fishing on boat off Hawke's Bay coast named
- NZ brothers remain behind bars after appearing in Phuket court
- Journalists offered 'radical' solution to save part of Newshub
- Mohammad Mokhber: Who is Iran’s acting president?
- WorkSafe interim chief executive Steve Haszard resigns months into job
Random recommendation
- Copyright © 2024 Powered by Red Lobster seeks bankruptcy protection after closing some restaurants ,Worldly Weaves news portal sitemap