The Red Lobster Chapter 11 saga is a sign of troubles to come
Red Lobster is bankrupt, and it could spell more economic troubles to come.
Source: nypost.com
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Red Lobster is bankrupt, and it could spell more economic troubles to come.
The nationally recognized chain of restaurants sunk following inflation, losses and "endless shrimp" deals.
Rumors have been swirling that the 56 year old restaurant chain was on the verge of bankruptcy after they abruptly closed 50 locations across America.
The seafood restaurant chain said on Sunday that it had filed for bankruptcy.
Less than one week after Red Lobster announced the closure of dozens of restaurants across the nation, the company has officially filed for Chapter 11 bankruptcy.