Current location:politics >>
Red Lobster seeks bankruptcy protection after closing some restaurants
politics47People 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.“Worldly Wonders news portal”。http://zimbabwe.downmusic.org/article-41b599950.html
Related articles
Socialite Jasmine Hartin enjoys beach snuggle with electrician hunk
politicsSocialite Jasmine Hartin has been seen enjoying a beach snuggle with her new mystery man.Ms Hartin w ...
【politics】
Read moreAntiques Roadshow guest shocked at stunning five
politicsA guest on BBC One's Antiques Roadshow was astonished to learn the enormous value of a centuries-old ...
【politics】
Read moreMLB players' union asks court to confirm arbitration decision against Bad Bunny firm
politicsNEW YORK (AP) — The baseball players’ association asked a federal court to confirm an arbitrator’s d ...
【politics】
Read more
Popular articles
- Hall of Fame outfielder Ken Griffey Jr. to lead Indianapolis 500 field in Corvette pace car
- Canton Fair sees surge in number of overseas purchasers: official
- Travis d'Arnaud homers again and Bryce Elder shuts down Marlins in Braves' 3
- Shipwreck archaeology unveils glory of Maritime Silk Road
- Ben Whishaw lights up the Croisette as he joins his co
- Exhibition on Italian art, design opens in Chongqing
Latest articles
California congressman urges closer consultation with tribes on offshore wind
Minnesota and other Democratic
Car ploughs into primary school and sparks mass evacuation of pupils
Foreign businessmen seek new opportunities at Canton Fair
Red Lobster seeks bankruptcy protection after closing some restaurants
Minnesota and other Democratic
LINKS
- Met officer admits dispersal order 'breached by Tommy Robinson at march against anti
- Biden administration tightens rules for obtaining medical records related to abortion
- Diver pinned under water by an alligator figured he had choice: Lose his arm or lose his life
- Yangtze River Delta put into focus
- Danny Mendick recalled, John Brebbia activated by struggling White Sox
- NASCAR revels in an M.J. moment. His Airness gives a big boost to his posthoops passion
- Serie A title, second star and derby: Inter takes it all with win over Milan
- Danny Mendick recalled, John Brebbia activated by struggling White Sox
- Italy's 2006 World Cup
- Orlando Magic guard Jalen Suggs helped off with left leg injury in Game 2 against Cavaliers