Current location:business >>
Red Lobster seeks bankruptcy protection after closing some restaurants
business644People 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.“Stellar Station news portal”。http://malta.cassettedesign.com/content-74a599403.html
Related articles
Tom Brady and Jay
businessA small group of NFL rookies from the 2024 class, including Caleb Williams and Drake Maye, sat down ...
【business】
Read moreTribute to a terrorist... rector's tears for Palestine extremist at memorial
businessGlasgow University is under growing pressure to censure its new rector after a video emerged showing ...
【business】
Read moreHome and Youth Affairs Bureau Spring Reception 2024 held in Hong Kong
business(Xinhua) 10:36, February 18, 2024Chief Executive of the Hong Kong Special Administrative Region John ...
【business】
Read more
Popular articles
- Ben Whishaw lights up the Croisette as he joins his co
- Annual Easter Parade and Bonnet Festival held in New York City
- Beijing parks sparkle with Lantern Festival delights
- China's demographic dividend is turning into talent dividend
- Baby Reindeer's real
- Tourism flourishes as Kashgar gears for Spring Festival gala
Latest articles
California congressman urges closer consultation with tribes on offshore wind
Millennium
Chinese Culture and Food Festival held in Kuwait
Three Homes Rayner? Would Labour's Deputy Leader inherit the perk of 18th
Brazil replaces injured goalkeeper Ederson in Copa America squad
Home and Youth Affairs Bureau Spring Reception 2024 held in Hong Kong
LINKS
- People take part in 5
- International contemporary art fair held in Ankara
- Moss pink flowers in full bloom in Heibei
- The 22nd China International Environmental Protection Exhibition was held in Beijing
- Lotus flowers at West Lake of Hanoi, Vietnam
- Autumn scenery at Summer Palace in Beijing
- China strives to build stronger rural tourism
- Autumn scenery of park along Changhe River in Hebei
- Palace Museum raises the number of daily visitors to 12,000
- Xi Sends Congratulatory Message to Lanting Forum on Chinese Modernization and the World