Current location:International Inquest news portal > business
Red Lobster seeks bankruptcy protection after closing some restaurants
International Inquest news portal2024-05-21 12:29:49【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://guernsey.campingcolorado.net/article-96e399602.html
Very good!(622)
Related articles
- Kosovo prepares a new draft law on renting prison cells to Denmark after the first proposal failed
- Palestinian American poet Fady Joudah receives $100,000 prize
- The Latest
- Georgia governor signs income tax cuts as property tax measure heads to November ballot
- California congressman urges closer consultation with tribes on offshore wind
- Judge in Trump case orders media not to report where potential jurors work
- Alex Jones shares health update after her son Kit, four, was hospitalised to undergo surgery
- Scheffler wiped out from Masters and opens with a 69 at Hilton Head. He trails Poston by 6 shots
- What a blast to work at NASA. Space agency is sky
- Nebraska lawmakers end session, leaving taxes for later
Popular articles
Recommended
Georgia Republicans choose Amy Kremer, organizer of pro
Kentucky guard Reed Sheppard enters NBA draft
Golden Bachelor star Theresa Nist's daughter gushes Gerry Turner will always be 'family'
Brazil's president creates two new Indigenous territories, bringing total in his term to 10
Russian theater director and playwright go on trial over a play authorities say justifies terrorism
The Dallas Stars have a big age gap with players who have come together for No. 1 seed in the West
Brazil's president creates two new Indigenous territories, bringing total in his term to 10
Argentina asks to join NATO as President Milei seeks a more prominent role for his nation
Links
- Screenwriter Chen Yu amazed by young filmmakers
- Russian state media is posting more on TikTok ahead of the U.S. presidential election, study says
- Art on the lips at hippiest cultural district in Hong Kong
- Nebraska forward Rienk Mast will have knee surgery and miss the 2024
- Britney Spears reaches divorce settlement with estranged husband Sam Asghari
- Missouri Senate filibuster ends with vote on multibillion
- AI data training supported by domestic chips, supercomputers
- United Methodists remove anti
- MLB extends Draft League through 2030 season and announces plan to expand to eight teams
- United Methodists remove anti