Current location:International Imagery news portal > style
Red Lobster seeks bankruptcy protection after closing some restaurants
International Imagery news portal2024-05-21 12:52:53【style】2People 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://centralafricanrepublic.tom-paine.com/news-63a399619.html
Very good!(48)
Related articles
- Philippines blames China for loss of giant clams in disputed shoal and urges environmental inquiry
- ReelFocus Project selects fresh blood for film industry's future
- IRS acts to address wide disparity in audit rates between Black taxpayers and other filers
- Russian trainers move to Niger airbase where small number of US troops remain
- Sweden beats France, Britain relegated after losing to Norway at hockey worlds
- Georgia governor signs law adding regulations for production and sale of herbal supplement kratom
- Some Houston
- Imperial Chinese wine jar stolen from Belgian museum
- US overdose deaths dropped in 2023, the first time since 2018
- Alvarez and Munguia unusually polite to each other leading up to all
Popular articles
- Russian theater director and playwright go on trial over a play authorities say justifies terrorism
- MLB extends Draft League through 2030 season and announces plan to expand to eight teams
- China's services trade reports rapid growth, travel services boom in Q1
- Kentucky judge declines, for now, to lift ban on executions
Recommended
The unstoppable duo of Emma Stone and Yorgos Lanthimos
China's services trade reports rapid growth, travel services boom in Q1
Mouncastle and Mateo propel Orioles to 7
The truth about 'fake meat' and why Martin Freeman was right about ultra
Analysis: Larson enters conversation with Verstappen as best drivers in the world
Mississippi high court declines to rule on questions of public funds going to private schools
Committee advances bill to let Alabama inmates speak at parole hearings
From your alarm clock and mattress to your microwave and fridge
Links
- Flood, weather warnings as storm hits Australia
- Baltimore bridge collapses after being struck by ship, six presumed dead
- Trump ordered to end attacks on judge's family in hush money case
- Truth Social: Trump's DJT stock plummets days after going public
- US, Japan and South Korea agree to expand security and economic ties at historic Camp David summit
- Water tank installation programme changing lives in the Far North
- Pair arrested for alleged theft of $20,000 worth of Lego
- Students petition Parliament to keep free school lunches funding
- UN suspends aid movements at night in Gaza
- Russia sentences Pussy Riot activist to six years in absentia for Ukraine "war fakes"