Current location:Stellar Scope news portal > entertainment
Red Lobster seeks bankruptcy protection after closing some restaurants
Stellar Scope news portal2024-05-21 14:06:58【entertainment】9People 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://wallisandfutuna.tom-paine.com/content-41d499546.html
Very good!(554)
Related articles
- A warrant for Netanyahu’s arrest was requested. But no decision was made about whether to issue it
- Government likened to 'dinosaurs behaving as though it's 1948' over te reo Māori use
- 24% rates hikes proposed for Napier
- Call for schools soft drink ban renewed after government implements cellphone ban
- Everybody may love Raymond, but Ray Romano loves Peter Boyle
- 40 earthquake
- Mozambique ferry disaster kills more than 90
- Event: Asia’s budding filmmakers prepare for Shorties Film Festival 2020
- Why US Catholics are planning pilgrimages in communities across the nation
- 24% rates hikes proposed for Napier
Popular articles
Recommended
Yu Darvish extends scoreless innings streak to 25 in Padres' 9
Belgium probes Russian interference in EU elections
Peregrine lander: Technical hitch threatens US Moon mission
MBIE calls on staff again to apply for voluntary redundancies
Candice Swanepoel stuns in a form
Greens in 'defensive mode' over Golriz Ghahraman allegations
Shohei Ohtani's former interpreter is negotiating guilty plea with federal investigators: NY Times
Security law: Hong Kong's artists resist censorship, continue sharing dissident art online
Links
- Domestic terrorism, political violence seen as top threat to U.S. interests in 2024: survey
- 300,000 new families eligible for welfare program in Sri Lanka
- Fishermen spot boat with 20 corpses floating off the coast of northeastern Brazil, reports say
- NATO defence ministers discuss strengthening bloc's deterrence, support to Ukraine
- Capitals beat the Lightning 4
- Israel's intrusion into Gaza won't gain security: Jordanian FM
- Capitals beat the Lightning 4
- 3 armed drones downed near U.S. military base in northern Iraq
- Reinhart gets his 55th goal to win it, Florida tops Buffalo 3
- Iraq, U.S. resume dialogue on ending U.S.