Current location:business >>
Red Lobster seeks bankruptcy protection after closing some restaurants
business7People 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.“Cosmic Chronicle news portal”。http://kuwait.videocameralive.com/html-07a599463.html
Related articles
Brazil replaces injured goalkeeper Ederson in Copa America squad
businessRIO DE JANEIRO (AP) — Brazil coach Dorival Júnior has replaced injured goalkeeper Ederson with Sao P ...
【business】
Read more'Chestnut Princess' Helps Rural Residents Promote Agricultural Products via Livestreaming
businessContact Us HomeNewsHighlightACWF NewsSocietyWom ...
【business】
Read moreProtecting Wetlands for Human
businessContact Us HomeNewsHighlightACWF NewsSocietyWom ...
【business】
Read more
Popular articles
- Messi in and Dybala out in Argentina squad for pre
- Top Chinese diplomat meets WPK delegation in Beijing
- Boosting Rural Revitalization in Hometown
- Feature: Chinese Acupuncturists Earn Recognition, Respect from Algerians
- Supreme Court rejects an appeal from a Canadian man once held at Guantanamo
- My Olympic Winter Games Story: The Dream That Keeps Me Going
Latest articles
Shohei Ohtani's first walk
Preserving the Pages of History
Rural Veterinarian Maintains Dual Role as Vet and Internet Celebrity in NW China's Ningxia
Street Vendor in SW China's Sichuan Wins Hearts with English Fluency
‘The Blue Angels,’ filmed for IMAX, puts viewers in the ‘box’ with the elite flying squad
Pic Story of Flower
LINKS
- DR ELLIE CANNON: Why do I get pain in my armpit during a strenuous bike ride?
- The nine California towns where you can still snap up a home for $150,000
- Lisowski upsets Ding in Crucible thriller
- Denis Bouanga's stoppage
- NHS set to ban trans women from female
- Saints fill need at offensive tackle, add depth at cornerback and QB during NFL draft
- Zhang Yufei bags fourth gold in China's national swimming championships
- Wuhan notches season's first home win in Chinese Super League
- British father
- Katranis scores late, rallies Real Salt Lake to 2