Current location:style >>
Red Lobster seeks bankruptcy protection after closing some restaurants
style1People 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.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Global Gaze news portal”。http://isleofman.adventistmissionjapan.org/article-52e199761.html
Related articles
Amir Khan's £11.5m luxury wedding venue finally hosts its first marriage: Bride arrives on horse
styleAmir Khan's £11.5million luxury wedding venue has finally hosted its first marriage after a series o ...
【style】
Read moreWoman pleads guilty for role in 4 slayings stemming from custody dispute, sentenced to life
styleATHENS, Tenn. (AP) — A Tennessee woman charged in the slayings of four people stemming from a custod ...
【style】
Read moreA painting of Winston Churchill by an artist whose work he hated is up for auction
styleLONDON (AP) — A portrait of Winston Churchill by an artist whose work the British leader loathed wen ...
【style】
Read more
Popular articles
- Biden says Brown v. Board of Education ruling was about more than education
- Texas inmate Melissa Lucio's death sentence should be overturned, judge says
- Buttler's unbeaten century helps Rajasthan beat Kolkata off final ball
- Woodgrove shopping centre, Melton: Families flee machete
- US overdose deaths dropped in 2023, the first time since 2018
- Dr. Martens stock plunges after dour US revenue outlook
Latest articles
Justin Timberlake set to bring his The Forget Tomorrow World Tour to Australia in 2025
Michigan gets 3 years of probation for football recruiting violations
St James's Place paid £213K to HMRC for my inheritance tax bill
Rory McIlroy debunks LIV Golf rumors. Greg Norman claims unanimous support during Masters trip
Biden says Brown v. Board of Education ruling was about more than education
Mayor of North Carolina's capital city won't seek reelection this fall
LINKS
- Dance festival celebrates ethnic unity
- Comicomment: Lingering shadows of the East Palestine train derailment
- Hong Kong greets 1.3 mln visits during Spring Festival holiday
- Xi, Putin Congratulate Meeting of China
- Insights丨Former official of WEF: China's economic shift promising through sustainable development
- With record scale, China's consumer products expo shares opportunities, market with world
- The Forbidden City hosted the Tea&World
- Xi sends reply letter to Butuka Academy of Papua New Guinea
- China to join Cobra Gold 2024 military exercise in Thailand
- Xi Focus: Xi's Shanghai Inspection Tour Sends Signal of High