Current location:Worldly Whispers news portal > politics
Red Lobster seeks bankruptcy protection after closing some restaurants
Worldly Whispers news portal2024-05-21 07:36:18【politics】0People 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://liechtenstein.soorot.com/news-52e599938.html
Very good!(651)
Related articles
- Georgia Republicans choose Amy Kremer, organizer of pro
- Former Green Bay player Kayla Karius leaves South Dakota to return to her alma mater as coach
- Armenia and Azerbaijan move closer to normalizing ties as the first border marker goes up
- US advances review of Nevada lithium mine amid concerns over endangered wildflower
- What a blast to work at NASA. Space agency is sky
- Girl, nine, is taken to hospital with life
- $6,500 school vouchers coming to Georgia as bill gets final passage and heads to governor
- QB Bryce Young excited about 'new faces' in Carolina after team's 2
- The government wants to buy their flood
- 'Challengers' review: Prepare to get hot and bothered
Popular articles
Recommended
Fresh heartache for cancer
$6,500 school vouchers coming to Georgia as bill gets final passage and heads to governor
Man sentenced to 6 years in prison for attacking police with pole at Capitol
Celine Dion reveals the reason she NEVER borrows clothes from top designers like other celebs
Storms damage homes in Oklahoma and Kansas. But in Houston, most power is restored
Analysis: Golf has two dominant forces in Scheffler and Korda. It didn't happen overnight
Trump's 'Truth Social' applied for H
Nikola Jokic's brother reportedly involved in altercation after Nuggets
Links
- What visitors on £100 Balmoral tours will see: Tourists can wander Drawing Room
- US targets Russia with hundreds of sanctions over Ukraine war, Navalny death
- KiwiSaver contributions: Big gap between men and women
- Masterful meals: Masterchef 2010 champion Dhruv Baker's cherry and hazelnut chocolate roulade
- ALISON BOSHOFF: Yo ho ho! Johnny Depp to launch his own brand of Caribbean dark rum
- Core blimey: Bramley & butternut squash soup with gorgonzola cream
- Ministry of Health calls staff meetings as job cuts loom
- Core blimey: French apple rose tart
- Copa 71 review: An enlightening documentary about REAL girl power, writes BRIAN VINER
- What visitors on £100 Balmoral tours will see: Tourists can wander Drawing Room