Red Lobster Files For Bankruptcy
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Red Lobster files for bankruptcy
Red Lobster filed for Chapter 11 bankruptcy on Sunday, announcing it will close a significant number of its restaurants and sell equipment in an attempt to raise funds. The announcement comes a wee
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Red Lobster files for bankruptcy
The restructuring includes the closure of dozens of locations as the seafood chain looks to cut costs.
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Red Lobster Files for Chapter 11 Bankruptcy
Red Lobster, the seafood chain known for its Cheddar Bay biscuits and endless shrimp deals, has filed for bankruptcy protection after months of financial woes and store closures. On May 19, Red Lobster Management LLC, which owns the restaurant chain, announced it has voluntarily filed for relief under Chapter 11 bankruptcy in the United States Bankruptcy Court for the Middle District of Florida. As part of the filings, Red Lobster says it plans to remain open and sell its businesses to existing...