Red Lobster seeks bankruptcy protection after closing some restaurants
Release time：2024-05-21 06:47:03 Source：Stellar Saga 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：A warrant for Netanyahu’s arrest was requested. But no decision was made about whether to issue it
- Next：Supreme Court declines to hear challenge to Maryland ban on rifles known as assault weapons
Related articles
- Georgia Republicans choose Amy Kremer, organizer of pro
- The government wants to buy their flood
- Children are evacuated from school 'during an exam' after threat made via email
- Trump accepts a VP debate but wants it on Fox News. Harris has already said yes to CBS
- Pope trip to Luxembourg, Belgium confirmed for September, 2 weeks after challenging Asia visit
- The fightback begins: Boss of London's Queen Mary University tells pro
- Kevin Pillar gets 1,000th career hit in Angels' win at Texas
- Yvette Fielding says her Most Haunted co
- College baseball notebook: Conference tournaments to decide NCAA automatic bids and many at
- Biden says Brown v. Board of Education ruling was about more than education
- Baby Reindeer's real
- I was 'brokefished' by my friend for £400
- 'The Apprentice,' about a young Donald Trump, premieres in Cannes
- The government wants to buy their flood
- Amtrak train hits pickup truck in upstate New York, 3 dead including child
- Student fatally shot, suspect detained at Georgia's Kennesaw State University
- A warrant for Netanyahu’s arrest was requested. But no decision was made about whether to issue it
- Investigators return to Long Island home of Gilgo Beach serial killing suspect
- Ship that caused Baltimore bridge collapse has been refloated
- NBA playoffs: Edwards leads Wolves to 98
Random recommendation
- Copyright © 2024 Powered by Red Lobster seeks bankruptcy protection after closing some restaurants ,Stellar Saga news portal sitemap