Red Lobster seeks bankruptcy protection after closing some restaurants
Release time：2024-05-21 14:49:34 Source：Worldly Window 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：Kate Hudson hits the stage to debut songs from her new album Glorious at star
Related articles
- Yvette Fielding says her Most Haunted co
- The Crown: Fact or Fiction
- Policies can create growth momentum
- California announces first new state park in a decade
- OpenAI pauses ChatGPT voice after Scarlett Johansson comparisons
- Small Chinese town goes big with magic of animation
- Is Hayley Atwell pregnant? Tom Cruise's ex, 42, cradles her tummy during romantic Venetian mini
- China details regulations on non
- Why US Catholics are planning pilgrimages in communities across the nation
- China, U.S. make preparations to send a pair of giant pandas to San Francisco Zoo in 2025
- Elon Musk gets approval from FDA to implant his Neuralink brain chip into a second patient
- Massive flooding hits China's Guangdong
- Elon Musk accuses Australia of censorship over Sydney church stabbing video
- Kepler has 3 RBIs in return from injured list; Twins beat White Sox 7
- The fightback begins: Boss of London's Queen Mary University tells pro
- Suárez runs shutout streak to 25 innings as Phillies blank Reds 7
- A Washington police officer killed 3 people in 8 years
- Cruz breaks slump with 3 hits, Jones cruises as Pirates beat Brewers 4
- Saudi Arabia is going to sponsor the WTA women's tennis rankings under a new partnership
- Small Chinese town goes big with magic of animation
Random recommendation
- Copyright © 2024 Powered by Red Lobster seeks bankruptcy protection after closing some restaurants ,Worldly Window news portal sitemap