Current location:Earthly Elements news portal > travel
Red Lobster seeks bankruptcy protection after closing some restaurants
Earthly Elements news portal2024-05-21 17:47:02【travel】7People 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://liberia.brianlynch.org/article-18c299770.html
Very good!(8249)
Related articles
- Young Boys seals 6th Swiss soccer league title in 7 years after rallying from firing coach Wicky
- British jets shoot down Iranian drones over Syrian border
- 'Wearing garden on the head' in Fujian attracts visitors
- Construction worker turned piano sensation meets his idol
- Baby Reindeer's real
- Young Chinese vlogger strengthens China
- Art contributes to rural development of village in China's Inner Mongolia
- Feature: China's top
- Shohei Ohtani's first walk
- British jets shoot down Iranian drones over Syrian border
Popular articles
Recommended
Tom Brady and Jay
Joel Embiid sits out as 76ers zip past Nets 107
British jets shoot down Iranian drones over Syrian border
Construction worker turned piano sensation meets his idol
Analysis: Larson enters conversation with Verstappen as best drivers in the world
Advantage Man City in the Premier League title race after losses for Arsenal and Liverpool
Chicago shooting kills 7
Light decorations seen before Chinese Lunar New Year in Macao
Links
- Prince William spotted on 'low
- From the fabulous 'Elvis Dress' to the velvet gown she wore dancing with Travolta
- Six people killed in Canada in rare mass murder case
- Listen up: Northland to test tsunami sirens
- New US inflation data 'along the lines' of what Fed wants, Powell says
- Norway's Arctic north wants to bring in a 26
- WorkSafe interim chief executive Steve Haszard resigns months into job
- From the fabulous 'Elvis Dress' to the velvet gown she wore dancing with Travolta
- Crown Prince Hussein and Princess Rajwa of Jordan announce they are expecting a baby this summer
- Māori wards ultimatum for councils as coalition government imposes referendums