Current location:entertainment >>
Red Lobster seeks bankruptcy protection after closing some restaurants
entertainment34731People 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.“World Watch news portal”。http://haiti.gigirondeau.com/article-18f998999.html
Related articles
Saudi Arabia is going to sponsor the WTA women's tennis rankings under a new partnership
entertainmentNEW YORK (AP) — Saudi Arabia’s move into tennis will now include a multiyear deal to sponsor the WTA ...
Read moreSix killed in a 'foiled coup' in Congo, the army says
entertainmentKINSHASA, Congo (AP) — Six people were killed and dozens arrested following attacks on the residence ...
Read moreHall of Fame outfielder Ken Griffey Jr. to lead Indianapolis 500 field in Corvette pace car
entertainmentINDIANAPOLIS (AP) — Hall of Fame outfielder Ken Griffey Jr. will drive the pace car for the 108th ru ...
Read more
Popular articles
- Ricky Stenhouse punching Kyle Busch could lead to suspension
- Ben Whishaw lights up the Croisette as he joins his co
- Red Lobster seeks bankruptcy protection after closing some restaurants
- Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue
- A warrant for Netanyahu’s arrest was requested. But no decision was made about whether to issue it
- Ohio judge to rule Monday on whether the state’s abortion ban stands
Latest articles
Messi in and Dybala out in Argentina squad for pre
Uber and Lyft say they'll stay in Minnesota after Legislature passes driver pay compromise
Trump accepts a VP debate but wants it on Fox News. Harris has already said yes to CBS
Everybody may love Raymond, but Ray Romano loves Peter Boyle
Kate Hudson hits the stage to debut songs from her new album Glorious at star
Pentagon vows to keep weapons moving to Ukraine as Kyiv faces a renewed assault by Russia
LINKS
- Sri Lanka witnesses rise in dengue cases with over 10,000 reported in December
- Dengue cases surpass 80,000 in Sri Lanka so far this year
- Supreme Court of U.S. Michigan keeps Trump on 2024 primary ballot
- Interview: China
- Turkish parliament to discuss Sweden's NATO bid next week
- U.S. California sees lowest home sales in 16 years
- Kowalczyk's first career goal sends Dynamo past Minnesota United 2
- Denver beats Boston College 2
- Palestinian death toll in Gaza rises to 20,915: ministry
- Foreign enterprises eye bright prospects in Chinese market