Current location:world >>
Red Lobster seeks bankruptcy protection after closing some restaurants
world12People 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.“Culture Chronicle news portal”。http://ireland.highlanderdistrict.org/content-96c199710.html
Related articles
US overdose deaths dropped in 2023, the first time since 2018
worldNEW YORK (AP) — The number of U.S. fatal overdoses fell last year, according to Centers for Disease ...
【world】
Read moreMelissa George gives fans a rare glimpse at her newborn baby boy after giving birth at 47
worldMelissa George has shared a rare photo of her newborn son after giving birth to her third child at a ...
【world】
Read moreRussia says int'l cooperation necessary in fighting terrorism
worldInternational cooperation is necessary in the fight against terrorism, but the dialogue is currently ...
【world】
Read more
Popular articles
- Pope trip to Luxembourg, Belgium confirmed for September, 2 weeks after challenging Asia visit
- Project renovating old residences revitalizes ancient city
- Myanmar junta soldiers surrender in ethnic army’s first Tanintharyi win — Radio Free Asia
- Israeli airstrikes kill 19 Palestinians in Gaza: Hamas
- Travis Kelce downs whiskey shot on slice of bread at Kelce Jam without Taylor Swift
- Kirill Kaprizov helps Wild end Kings' eight
Latest articles
Bella Hadid goes braless in a thigh
St. Petersburg tightens security measures after Moscow terrorist attack
Maren Morris defends taking her four
More innovation urged in fight to end tuberculosis
Independent UN experts urge Yemen’s Houthis to free detained Baha'i followers
Myanmar junta soldiers surrender in ethnic army’s first Tanintharyi win — Radio Free Asia
LINKS
- Christopher Luxon and business leaders to travel to South East Asia on trade, diplomatic mission
- The 96th Annual Academy Awards
- Biden takes on Trump over Russia, democracy in fiery State of the Union address
- WeightWatchers shares tumble as Oprah decides to exit board
- School attendance held back by sickness
- Government sets nine targets in health, crime, social support, education, climate
- Explainer: What do we know about Kate's preventative chemotherapy?
- Seymour 'achieved what I wanted' in 10
- Biden takes on Trump over Russia, democracy in fiery State of the Union address
- Large blaze at Auckland scrap metal site contained