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Red Lobster, known for its affordable seafood and cheddary biscuits, has exited Chapter 11 bankruptcy protection. A U.S. bankruptcy judge approved the casual seafood chain’s reorganization plan ...
Red Lobster In 2024 the Orlando, Florida -based seafood chain slipped towards bankruptcy closing 93 locations and filing for Chapter 11 bankruptcy protection on May 20, 2024, with over $1 billion in debt.
ADXco / ShutterstockUPDATE: May 21, 2024Editor's note: On May 19, Red Lobster confirmed it has filed for Chapter 11 bankruptcy. Nearly 580 of its restaurants will remain open through the ...
Red Lobster Hospitality, LLC is an American casual dining restaurant chain headquartered in Orlando, Florida.The company has operations across most of the United States (including Puerto Rico and Guam) and Canada, as well as in China, Ecuador, Japan, Malaysia, Mexico, Philippines, Turkey and the United Arab Emirates; as of June 23, 2020, the company had 719 locations worldwide.
Red Lobster said it will use the Chapter 11 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 ...
The $1.5 billion sale crippled Red Lobster. After the real estate was sold, Red Lobster had to pay rent on stores it had previously owned, significantly increasing its costs. According to the ...
But after significant financial losses in recent years, Red Lobster's owner says it has low expectations for its forthcoming sale of the seafood chain.Thai Union Group, a Thailand-based seafood ...
Kelli Valade (born October 11, 1969) is an American businesswoman who was formerly the chief executive officer of Red Lobster. Previously, she was the CEO and president of Black Box Intelligence (formerly TDn2K). [1] She is the former brand president of Chili's Grill & Bar and former executive vice president at Brinker International. [2]