Red Lobster seeks bankruptcy protection after closing some restaurants
Release time：2024-05-21 11:19:22 Source：World Whispers 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：Six killed in a 'foiled coup' in Congo, the army says
- Next：‘The Blue Angels,’ filmed for IMAX, puts viewers in the ‘box’ with the elite flying squad
Related articles
- Travis Kelce downs whiskey shot on slice of bread at Kelce Jam without Taylor Swift
- Thousands of Russians join Navalny
- New video of 'human bear' waving emerges as expert weighs in with verdict
- Brick Lane: Chinese political slogans appear on famous London street
- Young Boys seals 6th Swiss soccer league title in 7 years after rallying from firing coach Wicky
- Artificial intelligence found to be 'superior to biological intelligence'
- ASEAN summit: Myanmar community asks Parliament to block junta representatives
- Hong Kong down to earth designer Niko Leung crafts ceramics from construction waste
- Mohammad Mokhber: Who is Iran’s acting president?
- VOX POPULI: The power of old photos and a deficit
- Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue
- Clarifications and corrections
- Hong Kong's exhibition centre axed booking for concert without reason, says pro
- VOX POPULI: Seven years on, the Moritomo Gakuen scandal still unexplained
- Election 2024: Biden and Trump bypassed the Commission on Presidential Debates
- VOX POPULI: Abe faction’s ‘amended’ funds report is simply worthless
- Beijing confirms missing Taiwan publisher Li Yanhe is under national security investigation
- Winston Peters discusses Gaza ceasefire with UN Secretary
- Saudi Arabia is going to sponsor the WTA women's tennis rankings under a new partnership
- VOX POPULI: Rooting for the Sendai killifish that survived the 2011 tsunami
Random recommendation
- Copyright © 2024 Powered by Red Lobster seeks bankruptcy protection after closing some restaurants ,World Whispers news portal sitemap