Current location:Horizon Herald news portal > style
Red Lobster seeks bankruptcy protection after closing some restaurants
Horizon Herald news portal2024-05-21 11:38:13【style】3People 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://dominicanrepublic.bankruptcyintn.com/article-29c699338.html
Very good!(7617)
Related articles
- A warrant for Netanyahu’s arrest was requested. But no decision was made about whether to issue it
- China renews blue alert for sandstorms
- Yangtze town has a foot in the past and an eye on the future
- China to unveil major sci
- Amtrak train hits pickup truck in upstate New York, 3 dead including child
- China prepares to launch Shenzhou
- Chinese premier holds symposium with overseas buyers at Canton Fair
- Susanna Reid says she is still 'very connected' to former co
- Who is Jacob Zuma, the former South African president disqualified from next week's election?
- Chinese premier holds symposium with overseas buyers at Canton Fair
Popular articles
Recommended
Revealed: Brit tourist, 19, subjected to sex attack in Majorca 'was gang
Dortmund hopes resting on Fullkrug's shoulders
Over 1.12 bln people have health insurance e
Seasonal 'rocket chasers' ignite aerospace tourism boom in China
Burglar hurled stolen mobile phones at police from the top of 60ft high roof during nine
Paris 2024: USA to meet Serbia as basketball draw made
China prepares to launch Shenzhou
China's Einstein Probe astronomical satellite captures its first in
Links
- Miles Russell is 15. He sets Korn Ferry Tour record as the youngest player to make the cut
- Experts on Taylor Swift’s poetry in ‘The Tortured Poets Department'
- Lazio up to sixth in Serie A after win at Genoa
- Worker electrocuted while doing maintenance on utility pole in upstate New York
- Georgia gymnastics coach Courtney Kupets Carter is fired after 7 seasons, no NCAA titles
- Canucks' Rick Tocchet among new coaches making an impact in leading teams to NHL playoffs
- Nelly Korda 1 shot back through 36 holes at Chevron Championship as she chases 5th straight victory
- Convicted rapist charged with murder in killing of Connecticut visiting nurse, Joyce Grayson
- DEAR CAROLINE: Our son and daughter
- Jackson library to be razed for green space near history museums