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By filing for Chapter 11 bankruptcy, Red Lobster will pursue “operational improvements,” including restaurant closures and a “sale of substantially all of its assets,” according to the ...
Red Lobster [ edit ] In 2024 the Orlando, Florida -based seafood chain Red Lobster slipped towards bankruptcy closing 93 locations and filing for Chapter 11 bankruptcy protection on May 20, 2024, with over $1 billion in debt.
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 Canada, as well as in Ecuador, Japan, Mexico, and Thailand.
In 2021 and 2022, Red Lobster brought on a new CEO, chief marketing officer, chief financial officer and chief information officer. All left the company within two years. Then came the all-you-can ...
One day ago, a TikTok user shared that she was notified the Red Lobster restaurant she worked at suddenly closed. "I just got a phone call this morning saying our location is closed," she explained.
Red Lobster said that it had more than $1 billion in debt and less than $30 million in cash on hand. It plans to sell its business to its lenders, and in turn, it will receive financing to stay ...
His first major step towards rescuing Red Lobster is to eliminate one of its most iconic menu items: $20 endless shrimp, which was first launched in 2004. The company lost an estimated $20 million ...
Red Lobster, the casual dining chain that brought seafood to the masses with inventions like popcorn shrimp and “endless” seafood deals, has filed for Chapter 11 bankruptcy protection. The 56 ...