Current location:politics >>
Red Lobster seeks bankruptcy protection after closing some restaurants
politics76People 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 Grandeur news portal”。http://lesotho.brianlynch.org/news-52a399610.html
Related articles
Revealed: Brit tourist, 19, subjected to sex attack in Majorca 'was gang
politicsA 19-year-old British tourist who was subjected to a horrific sex attack in Majorca 'was gang-raped ...
【politics】
Read moreWesley Bryan would rather be at Hilton Head. He's leading in the Dominican Republic
politicsPUNTA CANA, Dominican Republic. (AP) — Wesley Bryan chipped in for eagle early and for birdie late, ...
【politics】
Read moreAP Week in Pictures: North America
politicsApril 12 - 18, 2024Girl Scouts watch a pinewood derby car race in Georgia, a pro-Palestinian demonst ...
【politics】
Read more
Popular articles
- Mystery artist who erected signs comparing pothole
- Tennessee State hires coach in big step to being the first HBCU to add ice hockey
- Even with John Schneider still in charge a new era arrives for Seahawks entering 2024 NFL draft
- Ibotta IPO: Shares of Walmart
- Ricky Stenhouse punching Kyle Busch could lead to suspension
- Haleigh Bryant helps LSU gymnastics advance to team finals at NCAA women’s championship
Latest articles
'The Apprentice,' about a young Donald Trump, premieres in Cannes
Ryan Pepiot pitches 6 strong innings as Rays beat Angels 2
Carlos Carrasco pitches solid into the 6th inning, Guardians edge Red Sox 5
Kentucky guard Reed Sheppard enters NBA draft
Storms damage homes in Oklahoma and Kansas. But in Houston, most power is restored
US deports about 50 Haitians to nation hit with gang violence, ending monthslong pause in flights
LINKS
- The rise of the mate
- How to fly long
- The world's quirkiest themed cruises revealed, from a nude cruise to a voyage for cat
- My six nights in the Loire... for the price of a bottle of Sancerre: Here's how the home
- Inside Britain's most northerly hotel in the Shetland Islands
- Do bears, wolves and lynx live in your favourite holiday hotspot? In
- I'm an American living in the UK
- Brits warned of little
- Fascinating map reveals the WORST reviewed three
- Inside the £160