Current location:Earth Examination news portal > entertainment
Red Lobster seeks bankruptcy protection after closing some restaurants
Earth Examination news portal2024-05-21 18:17:30【entertainment】3People 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://congorepublicofthe.graduatethesis.org/article-63d699305.html
Very good!(5136)
Related articles
- ‘The Blue Angels,’ filmed for IMAX, puts viewers in the ‘box’ with the elite flying squad
- Moon landing attempt: Private US spacecraft enters orbit
- Rookie Adama Sanogo has 22 points and 20 rebounds to shatter career highs, Bulls top Wizards 129
- Project to shore up Pompeii yields stunning black banquet hall, with frescoes of Trojan War figures
- Election 2024: Biden and Trump bypassed the Commission on Presidential Debates
- Artist Natalia Rak not told her Dunedin mural would be painted over
- O.J. Simpson still reflects America's racial divides— even in death
- Four astronauts from four countries return to Earth after six months in orbit
- The government wants to buy their flood
- Closing prices for crude oil, gold and other commodities
Popular articles
- Storms damage homes in Oklahoma and Kansas. But in Houston, most power is restored
- Astronomers spot previously unknown moons around Neptune, Uranus
- Four astronauts from four countries return to Earth after six months in orbit
- How do animals react during a total solar eclipse? Scientists plan to find out in April
Recommended
The fightback begins: Boss of London's Queen Mary University tells pro
Rookie Adama Sanogo has 22 points and 20 rebounds to shatter career highs, Bulls top Wizards 129
Thailand: $13.7 billion digital money handout plan unveiled
Rookie Adama Sanogo has 22 points and 20 rebounds to shatter career highs, Bulls top Wizards 129
Verona confirms Serie A status for another year after beating Salernitana
First US moon lander in half a century stops working a week after tipping over at touchdown
Moon landing attempt: Private US spacecraft enters orbit
Got kids? Here's what to know about filing your 2023 taxes
Links
- Panthers trade up into first round of NFL draft, select WR Xavier Legette from South Carolina
- Head of Vietnam's parliament resigns amid corruption probe
- ‘There’s Still Tomorrow’ director Paola Cortellesi talks success, toxic relationships and hope
- Kenya Airways accuses Congo military of holding its staff since last week over cargo issues
- Reese Witherspoon, 48, beams beside mini
- More doctors can prescribe a leading addiction treatment. Why aren't more people getting help?
- Scotland's under
- A Russian journalist has been detained for posts criticizing the military, his lawyer says
- Polish and Lithuanian leaders oversee military drills along their shared border
- Laura Woods wows in a black figure