Current location:business >>
Red Lobster seeks bankruptcy protection after closing some restaurants
business48268People 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.“International Iterations news portal”。http://juandenovaisland.argoasecurityeu.com/content-74f499488.html
Related articles
Celebrity birthdays for the week of May 26
businessCelebrity birthdays for the week of May 26-June 1:May 26: Sportscaster Brent Musburger is 85. Drumme ...
【business】
Read moreInside Lausanne
businessStepping out of Lausanne train station, everywhere is pristine: no graffiti, no litter, no pushing a ...
【business】
Read moreGlobetrotting couple share stunning photos from visits to 75 countries
businessIf these photos don't spark your wanderlust - nothing will. They've been taken by travel couple Dani ...
【business】
Read more
Popular articles
- Jessica Biel CHOPS her long locks into a bob after book signing in Studio City
- Why Temple Bar backs cheap shares like M&S, BP and Royal Mail: INVESTING SHOW
- The best beaches in the world for 2024 ranked by Tripadvisor
- Biden pledges 'relentless diplomacy' on global challenges
- Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue
- Travel fanatic who has used TSA PreCheck for 'her whole life' SLAMS popular service
Latest articles
Ricky Stenhouse punching Kyle Busch could lead to suspension
Exquisite suites and unrivalled experiences
Humiliation for Saudi Arabia as it's 'forced to scale back $1.5trillion plans for 106
Blooming wonderful: Britain's best springtime escapes, from award
Brazil replaces injured goalkeeper Ederson in Copa America squad
From caves to lagoons and lost
LINKS
- Book on People
- 'Bridge' of Love, Music
- China's Dunhuang, French Museum to Co
- Chinese FM spokesperson's remarks on phone talks between Xi, Biden
- Local Delicacy Spices up Tourism in Northwest China City
- Inside the boom: Why German companies flock to a Chinese town
- Book on People
- Promoting Sex
- Israel withdraws all ground troops except for one brigade from southern Gaza: media reports
- 'Bridge' of Love, Music