Current location:style >>
Red Lobster seeks bankruptcy protection after closing some restaurants
style79154People 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 Scope news portal”。http://paracelislands.shellye-mcdaniel.com/html-30c499528.html
Related articles
I was 'brokefished' by my friend for £400
styleI need your help. My friend K has been recently telling our friendship group about how dire his fina ...
【style】
Read moreFujian Jinhua 'not guilty' in Micron case
styleU.S. court rules prosecutors failed to prove chipmaker stole proprietary data ...
【style】
Read moreLong March rocket prepares for take
styleThe Long March 7 carrier rocket is seen on Sunday in front of its service tower at the Wenchang Spac ...
【style】
Read more
Popular articles
Latest articles
Young Boys seals 6th Swiss soccer league title in 7 years after rallying from firing coach Wicky
Xi Story: Friends and Comrades with a Shared Mission
What Message Did President Xi Send During His Visit to Jiujiang?
Xi Focus: Xi Calls on Jiangxi to Write Its Chapter in Chinese Modernization
Pentagon vows to keep weapons moving to Ukraine as Kyiv faces a renewed assault by Russia
Long March rocket prepares for take
LINKS
- Interview: Expert says Algeria
- China has favorable conditions for overall price stability
- Flight path adjusted for aviation safety
- Interview: Racism, abuse of weapons fuel gun violence in U.S. society, says Egyptian expert
- New technologies of smart agriculture on display at 5th CIIE in Shanghai
- Foreign Leaders, Heads of Int'l Organizations Extend Greetings for Chinese New Year of Dragon
- Xi pays visit to grassroots officials and residents in Tianjin ahead of Spring Festival
- Flight path adjusted for aviation safety
- China to expand visa
- Xi chairs CPC leadership meeting to review reports, guideline and regulations