Gavin Newsom Proposes Cutting 10,000 Vacant State Jobs to Close State Deficit
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Red Lobster Files For Bankruptcy After Abruptly Closing Dozens Of Restaurants
Red Lobster has filed for bankruptcy just days after closing dozens of its restaurants. In its bankruptcy petition filed on Sunday, May 19, the company listed assets of $1 billion and liabilities of $10 billion. The filing stated that the company "intends to use the proceedings to drive operational improvements, simplify the business through a reduction in locations, and pursue a sale of substantially all of its assets as a going concern." The company said restaurants not listed as...
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Red Lobster seeks bankruptcy protection after closing dozens of restaurants
US seafood restaurant chain has been struggling with lease and labor costs, and promotions such as its all-you-can-eat shrimp dealRed Lobster has filed for Chapter 11 bankruptcy protection days after shuttering dozens of restaurants.The US seafood restaurant chain has been struggling for some time with lease and labor costs piling up in recent years and also promotions such as its signature all-you-can-eat shrimp deal. Continue reading
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Red Lobster files for bankruptcy days after closing dozens of restaurants
Red Lobster filed for bankruptcy on Sunday, days after shuttering dozens of locations as the iconic seafood chain struggles.