Current location:opinions >>
Red Lobster seeks bankruptcy protection after closing some restaurants
opinions791People 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 Curves news portal”。http://gabon.claboston.org/article-30d199850.html
Related articles
Uber and Lyft say they'll stay in Minnesota after Legislature passes driver pay compromise
opinionsST. PAUL, Minn. (AP) — Uber and Lyft plan to keep operating in Minnesota after the state Legislature ...
【opinions】
Read moreLewandowski hat trick gives Barcelona comeback victory over Valencia
opinionsBARCELONA, Spain (AP) — Barcelona survived a tricky first half to beat Valencia 4-2 with the help of ...
【opinions】
Read moreElon Musk visits China as Tesla seeks self
opinionsElon Musk has promised that his long-awaited driverless cars will make their debut on the streets of ...
【opinions】
Read more
Popular articles
Latest articles
Storms damage homes in Oklahoma and Kansas. But in Houston, most power is restored
University of Arizona student shot to death at off
Patriots' Christian Barmore agrees to 4
3 officers killed, 5 wounded in Charlotte, North Carolina shootout; a suspect is dead
Kristin Cavallari, 37, ignores critics of her age
House and Senate negotiate on bill to assist FAA
LINKS
- UNESCO, Gansu announce partnership
- Beyoncé is bringing her fans of color to country music. Will they be welcomed in?
- Shandong city seeks to capitalize on barbecue fame
- Sancho, Reus send Dortmund to UCL quarters
- Beijing confirms recovering tourism during New Year holiday
- Content broadcasting network exhibition to open in Beijing
- Chinese tourists flock to savor trendy immersive experiences
- Guardiola reveals fresh Man City injury blow
- Fire rages through Copenhagen's historic stock exchange, spire collapses
- Yuan wins Chinese derby to progress at Indian Wells