Current location:politics >>
Red Lobster seeks bankruptcy protection after closing some restaurants
politics15936People 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 Watch news portal”。http://burkinafaso.cumberland-sausage.net/article-96f199789.html
Related articles
Young Boys seals 6th Swiss soccer league title in 7 years after rallying from firing coach Wicky
politicsGENEVA (AP) — Young Boys sealed its sixth Swiss league title in seven years by winning at Servette 1 ...
【politics】
Read moreChina Tops the World in Globally Important Agricultural Heritage Systems
politicsContact Us HomeNewsHighlightACWF NewsSocietyWom ...
【politics】
Read moreInt'l Children's Day Celebrated Across China
politicsContact Us HomeNewsHighlightACWF NewsSocietyWom ...
【politics】
Read more
Popular articles
- Mohammad Mokhber: Who is Iran’s acting president?
- Graduation Ceremony Held at Kindergarten in Lanzhou, NW China's Gansu
- Schools in N China Organize After
- Record 11.93 Mln Students to Take China's College Entrance Exam
- Strictly star Giovanni Pernice's former partner Rose Ayling
- China Beefs up Free Blood Test to Help Abducted Children, Women Reunite with Families
Latest articles
The unstoppable duo of Emma Stone and Yorgos Lanthimos
China to Make All
Feature: Village basketball adds vitality to life, development in China
Record 12 Mln Sit for China's Annual College Entrance Exam
‘The Blue Angels,’ filmed for IMAX, puts viewers in the ‘box’ with the elite flying squad
Beijing Rolls out Measures to Boost Consumption
LINKS
- Eurovision explained, as the contest is shadowed by Israel
- Election 2024: Trump's youngest son picked as Florida delegate to RNC
- Beyond Meat urges investors to look past bumpy Q1, says new US burger could reignite sales
- Russell Brand hugs pal Bear Grylls in the River Thames in newly released picture
- Tiger Woods to be lone player on negotiating committee with Saudis
- Hurricanes, Blues tussle for top spot in Super Rugby Pacific
- Paralympian loses medals and equipment in Brazilian floods but is improvising to qualify for Paris
- Twins top Mariners 6
- What will Utah's NHL team be called? Here are 20 options
- Yemen's Houthi rebels claim 2 attacks in Gulf of Aden, another unreported in Indian Ocean