Current location:Global Graph news portal > business
Red Lobster seeks bankruptcy protection after closing some restaurants
Global Graph news portal2024-05-21 18:21:22【business】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://britishindianoceanterritory.3elevenboutique.com/article-96c199710.html
Very good!(46522)
Related articles
- Jon Wysocki dead at 53: Staind drummer passes away
- Nelson first to test kerbside soft plastics collection
- Man arrested after alleged stabbing in Papamoa, Bay of Plenty
- School attendance plan unambitious, raises health concerns
- Russian theater director and playwright go on trial over a play authorities say justifies terrorism
- MPs 'probably' deserve pay rises, former minister Chris Finlayson says
- The ancient Roman alternative to daylight savings time
- The ancient Roman alternative to daylight savings time
- Britain's new bonkers EV: Callum Skye is an £80k electric buggy built in Warwickshire
- World Court orders Israel to halt Gaza famine; Hamas says ceasefire needed
Popular articles
Recommended
Here comes the char
Princess of Wales Kate having chemotherapy after cancer discovery
School attendance plan unambitious, raises health concerns
Explosion at Papatoetoe industrial site
Hollywood star Shia LaBeouf is spotted on the streets of Gavin and Stacey's hometown Barry
Pilot of crashed Baltimore ship called for tugboat help minutes before ploughing into bridge
Biden takes on Trump over Russia, democracy in fiery State of the Union address
Dozens of jobs set to be axed at Commerce Commission
Links
- Pablo López strikes out 8 in 6 innings as Twins beat Red Sox 3
- It's Cinco de Mayo time, and festivities are planned across the US. But in Mexico, not so much
- Prince Harry's new meeting with King Charles shows a thaw in frosty relations, royal experts say
- Ipswich back in the Premier League for first time since 2002. Tom Brady's Birmingham relegated
- EastEnders SPOILER: Walford resident don fancy dress for Whitney and Zack's 'sten
- Orthodox Russians mark Easter with night
- Đurić scores twice as Monza hits Lazio's Champions League hopes in 2
- Surridge, Mukhtar, Zimmerman lead Nashville past Montreal 4
- Juro Kara, rebel playwright behind Japan's modern underground theater, dies at 84
- How American protests came to be loved and loathed