Current location:politics >>
Red Lobster seeks bankruptcy protection after closing some restaurants
politics863People 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.“Cultural Caravan news portal”。http://morocco.elfsignes.com/content-96e499475.html
Related articles
Sweden beats France, Britain relegated after losing to Norway at hockey worlds
politicsPRAGUE (AP) — Sweden beat France 3-1 to preserve a perfect record at the ice hockey world championsh ...
【politics】
Read moreVictoria Beckham and her lookalike sister Louise Adams pose arm
politicsVictoria Beckham and her lookalike sister Louise Adams were the spitting image of one another posed ...
【politics】
Read moreKroger, Albertsons — still hoping to merge — agree to sell more stores to satisfy regulators
politicsSupermarket chains Kroger and Albertsons said Monday they will sell more of their stores in an effor ...
【politics】
Read more
Popular articles
- Ship that caused Baltimore bridge collapse has been refloated
- Heavy rainstorms kill 4 people in southern China. Ten others are missing
- Arkansas teen held on murder charge after fatal shooting outside party after high school prom
- I'm an American and I tried a Tesco meal deal for the first time
- Analysis: Larson enters conversation with Verstappen as best drivers in the world
- UK prime minister pushes for Rwanda deportation bill over objections from unelected upper chamber
Latest articles
Britain's new bonkers EV: Callum Skye is an £80k electric buggy built in Warwickshire
Nearly 100 Belarus political prisoners have severe medical problems, rights group says
The Princess Bride star Cary Elwes reflects on how his role in 1980s cult classic changed his life
Colleagues, family react to death of AP reporter Terry Anderson
Company wins court ruling to continue development of Michigan factory serving EV industry
'Classless' fan heckles at wrestler Jordan Burrough at US Olympic trials
LINKS
- Supreme Court will hear Trump’s immunity claim. Here’s what to know
- Judge strikes down North Carolina law on prosecuting ex
- Nikola Jokic's brother reportedly involved in altercation after Nuggets
- Epiphanny Prince retires from basketball after a 14
- Both bodies found five days after kayaks capsized going over a dangerous dam in Indianapolis
- Hurricanes rely on veteran composure in the big rally for a 2
- PICTURED: Mom
- In Argentina, the government's austerity plan hits universities and provokes student protests
- As syphilis cases among US newborns soar, doctors group advises more screening during pregnancy
- Ten of the world's best airports for food and drinks, according to experts