Red Lobster Files For Bankruptcy After Closing Dozens Of Restaurants
(CTN News) - Red Lobster, renowned for its "endless" seafood and popcorn prawns, initiated the process of Chapter 11 bankruptcy..............
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(CTN News) - Red Lobster, renowned for its "endless" seafood and popcorn prawns, initiated the process of Chapter 11 bankruptcy..............
Red Lobster, the casual dining chain that brought seafo...
Red Lobster, the casual dining chain that brought affordable seafood to the masses across the United States with inventions like popcorn shrimp and...
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," CEO Jonathan Tibus said. Tibus, a corporate restructuring expert, took the top post at the chain in March.
Red Lobster has filed for bankruptcy, claiming that a popular unlimited seafood promotion is responsible for its demise.