Current location:World Watch news portal > opinions
Red Lobster seeks bankruptcy protection after closing some restaurants
World Watch news portal2024-05-21 12:04:24【opinions】2People 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.
Address of this article:http://benin.brianlynch.org/article-96e399602.html
Very good!(2)
Related articles
- Burglar hurled stolen mobile phones at police from the top of 60ft high roof during nine
- Closing prices for crude oil, gold and other commodities
- Drake and Kendrick Lamar's feud, explained
- Alabama Senate committee delays vote on ethics legislation
- Celebrity birthdays for the week of May 26
- REVEALED: New PROOF the anti
- Shanghai rout Zhejiang as unbeaten run reaches 10
- What to know about the Penske scandal that has rocked IndyCar
- Student fatally shot, suspect detained at Georgia's Kennesaw State University
- How has the Met Gala come to this? Rita Ora and Doja Cat lead starlets going semi
Popular articles
Recommended
Siblings trying to make US water polo teams for Paris Olympics
Rishi Sunak admits he must prove to voters his plan is 'making a difference'
Living literally on the edge! Drone footage shows 18th century three
Where were Kanye West and Bianca Censori's Met Gala invites? As his ex
Election 2024: Biden and Trump bypassed the Commission on Presidential Debates
Connecticut House passes plan to spend remaining COVID funds, forgoing changes to state budget
Liverpool get back on track with 4
House prices flat in April says Halifax, but buyers seek cheaper homes due to rising mortgage rates
Links
- Noted writer Chi Pang
- Maglev line opens to tourists in Fenghuang
- Enjoy winter sports at foot of Great Wall in Shanxi
- Bodies of 3
- China unveil 31
- Ethiopian region looks to develop tourism
- Impeachment articles against Mayorkas to be sent to Senate
- Paris Olympics flame to be lit with elan at Greek cradle of ancient games
- Noted writer Chi Pang
- Bayern in unrest ahead of Arsenal clash