Current location:Stellar Stories news portal > politics
Red Lobster seeks bankruptcy protection after closing some restaurants
Stellar Stories news portal2024-05-21 10:23:24【politics】7People 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://namibia.highlanderdistrict.org/content-30d599446.html
Very good!(136)
Related articles
- The fightback begins: Boss of London's Queen Mary University tells pro
- Tunisian Jews scale back annual pilgrimage to ancient synagogue because of security concerns
- Joy Corrigan goes braless under a stunning long lacy pink cardigan and white knee
- Yoko Ono to receive Edward MacDowell Medal for lifetime achievement
- Philippines blames China for loss of giant clams in disputed shoal and urges environmental inquiry
- David Beckham's best pal Dave Gardner reveals guests at Victoria's star
- Colleagues, family react to death of AP reporter Terry Anderson
- Matt Rempe and Rangers' fourth line comes up big in Game 1
- Supreme Court rejects an appeal from a Canadian man once held at Guantanamo
- Injured sent to Thai border hospital following Myanmar clash — Radio Free Asia
Popular articles
- Investigators return to Long Island home of Gilgo Beach serial killing suspect
- Los Angeles Mayor Karen Bass safe after suspect breaks into official residence, police say
- A Palestinian baby in Gaza is born an orphan in an urgent cesarean section after an Israeli strike
- Nets hire Jordi Fernandez as coach. Fernandez was Kings' associate head coach for two years
Recommended
Everybody may love Raymond, but Ray Romano loves Peter Boyle
Driver arrested for drug driving after plowing through classroom wall in Liverpool
Children of Flint water crisis make change as young environmental and health activists
Inside the bizarre Las Vegas conference where Trump
Candice Swanepoel stuns in a form
Revealed: Harry Styles superfans face 80
David Beckham moves wife Victoria to tears with emotional speech at her star
David Beckham moves wife Victoria to tears with emotional speech at her star
Links
- Innovating Rice Planting with Passion
- Works from Fine Arts Exhibition of Chinese Women Artists
- Barca hold off Napoli for 3
- Family Farms Inject Vitality into Agriculture
- Illuminating Children's Minds
- Chinese Martial Arts Gain Popularity Overseas
- Decades of Safeguarding Mountains, Forests
- Seedling Breeder Helps Farmers Attain Wealth by Developing Vegetable Cooperative
- Village Official Promotes Rural Residents' Well
- CPC Delegate Committed to Subway Safety