Red Lobster seeks bankruptcy protection after closing some restaurants
Release time：2024-05-21 16:45:14 Source：Planet Profile 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：Student fatally shot, suspect detained at Georgia's Kennesaw State University
- Next：Here comes the char
Related articles
- NBA playoffs: Edwards leads Wolves to 98
- Pic Story: Protector of Black
- China Focus: Undergraduate Education Empowers Housekeepers with Better Career Prospects
- Pursuing Dream in Vast Fields
- Jessica Biel CHOPS her long locks into a bob after book signing in Studio City
- Across China: Medicinal Plant Brews up Sweet Life for Locals
- Policies yield key results in Xiong'an
- Taiwan Flutist Living Her Best Life in Fujian
- Analysis: Larson enters conversation with Verstappen as best drivers in the world
- University Graduate Develops Cooperative, Helps Farmers Attain Wealth
- Russian theater director and playwright go on trial over a play authorities say justifies terrorism
- Craftswoman Promotes Rural Vitalization by Developing Family's Tea Business
- Top Chinese diplomat meets WPK delegation in Beijing
- Interview: Hangzhou Asian Games one of the best events: Kuwaiti gold medalist
- Insider Q&A: CIA's chief technologist's cautious embrace of generative AI
- Across China: All
- Pic Story of Former Serf of Manor in Xizang
- Miao Embroiderer Takes Ethnic Intangible Heritage to World Stage
- A warrant for Netanyahu’s arrest was requested. But no decision was made about whether to issue it
- 10 Outstanding Women Honored as National March 8th Red
Random recommendation
- Copyright © 2024 Powered by Red Lobster seeks bankruptcy protection after closing some restaurants ,Planet Profile news portal sitemap