Current location:politics >>
Red Lobster seeks bankruptcy protection after closing some restaurants
politics473People 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.“Earthly Echoes news portal”。http://bosniaandherzegovina.bankruptcyintn.com/news-41e599435.html
Related articles
Strictly star Giovanni Pernice's former partner Rose Ayling
politicsGiovanni Pernice has been dealt a fresh blow after friend and former Strictly dance partner Rose Ayl ...
【politics】
Read moreJayhawks sign Alabama's Rylan Griffen out of portal to address their 3
politicsRylan Griffen, a starter on the Alabama team that reached the NCAA Final Four, has signed with Kansa ...
【politics】
Read moreBraves 2B Ozzie Albies activated from injured list ahead of series versus Guardians
politicsATLANTA (AP) — Second baseman Ozzie Albies was activated Friday by the Atlanta Braves ahead of a wee ...
【politics】
Read more
Popular articles
- The unstoppable duo of Emma Stone and Yorgos Lanthimos
- Bairstow's unbeaten century leads Punjab to highest run chase in IPL history
- A British tourist is in a hospital after a shark attack. Tobago closes several beaches
- Horrifying moment mother thought her five
- Ohio judge to rule Monday on whether the state’s abortion ban stands
- European soccer leagues insist they have no plans for games in the US. A lawsuit could change that
Latest articles
What's next for Iran after death of its president in crash?
Myth of 'superhuman strength' in Black people persists in deadly encounters with police
Pope to bring his call for ethical artificial intelligence to G7 summit in June in southern Italy
Female California teacher, 46, pleads no contest to raping 14 year
The unstoppable duo of Emma Stone and Yorgos Lanthimos
Wade Rousse named new president of Louisiana's McNeese State University
LINKS
- Xi Awards Friendship Medal to Vietnam's Communist Party Chief
- 2023 Women Science and Technology Innovation Pioneer Forum Held in Beijing
- Subsidies not reason for Chinese EVs competitive advantage: minister
- Man Who Respects Culture
- Xi Focus: Xi Addresses CIIE, Calls for Joint Efforts for Bright Future of Openness, Prosperity
- Federation Cultivates 'Legal Docents' to Help Protect Women's Rights
- China Issues White Paper on Community with Shared Future in Cyberspace
- (CPC Congress) 20th CPC National Congress Concludes
- Xi Focus: Xi Steers Import Expo into Global Platform for Sharing Chinese Opportunities
- Xi Sends Condolences to Indian President, PM over Bridge Collapse