Current location:business >>
Red Lobster seeks bankruptcy protection after closing some restaurants
business79937People have gathered around
IntroductionRed Lobster, the casual dining chain that brought seafood to the masses with inventions like popcorn ...
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.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Stellar Stream news portal”。http://turkmenistan.shellye-mcdaniel.com/content-29f799225.html
Related articles
Insider Q&A: CIA's chief technologist's cautious embrace of generative AI
businessKnowledge advantage can save lives, win wars and avert disaster. At the Central Intelligence Agency, ...
【business】
Read moreAllergies can make you miserable. Here's how to track pollen levels near you
businessAllergy season can bring misery to tens of millions of Americans each year.Tree, grass, and other po ...
【business】
Read moreMark Wahlberg, 52, flaunts his muscles in shirtless video flexing during 4am workout
businessMark Wahlberg flexed his muscles in a sizzling shirtless video this week - amid David Beckham's laws ...
【business】
Read more
Popular articles
- Bella Hadid goes braless in a thigh
- Uma Thurman, 53, looks sensational in elegant purple gown and shiny gold jewelry as she joins A
- Crusaders beat Rebels for second win in 2024; boost Super Rugby playoff hopes
- ‘There’s Still Tomorrow’ director Paola Cortellesi talks success, toxic relationships and hope
- Ship that caused Baltimore bridge collapse has been refloated
- Andrew Tate's trial on charges of rape and human trafficking can start, a Romanian court rules
Latest articles
Kevin Pillar gets 1,000th career hit in Angels' win at Texas
These are the countries where TikTok is already banned
Becky G dazzles in ab
Repatriated South African apartheid
Socialite Jasmine Hartin enjoys beach snuggle with electrician hunk
Sydney church stabbing: Muslim groups claim double standards in police handling of stabbings
LINKS
- Xi Extends Greetings Ahead of Farmers' Harvest Festival
- Xi Meets Cambodian Prime Minister
- Study links pesticide to breathing problems in children living near farms
- Xi Meets Cambodian King
- Yearender: Silicon Valley keeps trends as Artificial Intelligence goes mainstream in 2017
- Xi Meets Cambodian King
- China discovers new oilfield with over 100 mln tones of reserves
- Automotive future lies in integrated technology: Research
- Beverage grading system launched in Shanghai
- Railway logistics centers complete