Current location:opinions >>
Red Lobster seeks bankruptcy protection after closing some restaurants
opinions72People 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 Compass news portal”。http://mauritius.downmusic.org/article-29e699336.html
Related articles
What's next for Iran after death of its president in crash?
opinionsJERUSALEM (AP) — The death of Iran’s president is unlikely to lead to any immediate changes in Iran’ ...
【opinions】
Read moreJodie Turner
opinionsJodie Turner-Smith showed off her toned abs and effortless street style on Friday as she stepped out ...
【opinions】
Read moreTens of thousands protest against Mexico's president in the main square of Mexico City
opinionsMEXICO CITY (AP) — Tens of thousands of mostly opposition supporters protested Sunday against Mexico ...
【opinions】
Read more
Popular articles
- Celebrity birthdays for the week of May 26
- What we know about the Iranian president's helicopter crash
- Investigation: Inmates at Virginia prison for mentally ill hospitalized 13 times for hypothermia
- Man acquitted in 2016 killing of pregnant woman and her boyfriend at a Topeka apartment
- Rangers are undefeated at .500 to keep World Series champs from a losing record with Bochy
- Japanese authorities urge caution after wild bears attack several people in the northeast
Latest articles
Travis Kelce downs whiskey shot on slice of bread at Kelce Jam without Taylor Swift
Mateta's hat trick helps Crystal Palace rout Aston Villa 5
OG Anunoby and Josh Hart are in the Knicks' starting lineup for Game 7 against the Pacers
Bryson DeChambeau puts on a show but somehow comes up short at PGA Championship
Bella Hadid goes braless in a thigh
Arsenal gets late winner against Everton but has to settle for second place in Premier League
LINKS
- China's Q1 foreign trade surge signals economic upturn
- Crosby scores 42nd goal, Penguins keep playoff hopes alive with 4
- Pache's single, Harper's catch in 10th inning lift Phillies past Rockies
- Liverpool falls silent to mark 35th anniversary of Hillsborough disaster: Ninety
- Crosby scores 42nd goal, Penguins keep playoff hopes alive with 4
- Dylan Cozens scores 2 goals as Sabres beat Lightning 4
- The proof going vegan ISN'T better for you? Study finds plant
- Woman, 45, suffers horrific and rare reaction to IBUPROFEN
- Billionaire Elon Musk is mercilessly mocked over his 'embarrassing' red carpet poses
- Chinese traditional music charms Maltese audience