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Red Lobster considering bankruptcy filing: report
Fox News ^
| 4/16/2024
| Eric Revell
Posted on 04/16/2024 6:40:18 PM PDT by Zhang Fei
Red Lobster is reportedly considering filing for bankruptcy to relieve financial pressures that have weighed on the company.
According to a report by Bloomberg citing people familiar with the discussions, Red Lobster is weighing a Chapter 11 bankruptcy filing to renegotiate burdensome leases and address other long-term contracts as well as rising labor costs.
The outlet reported that the seafood restaurant chain is being advised by law firm King & Spalding on the subject, and that while discussions about restructuring are ongoing and that no final decisions have been made about a bankruptcy filing.
By filing for Chapter 11 bankruptcy, the company could continue to operate while it works with creditors and investors to put in place a debt reduction plan that would allow it to head into the future on a better financial footing.
(Excerpt) Read more at foxbusiness.com ...
TOPICS: Business/Economy; Extended News; News/Current Events; US: Florida
KEYWORDS: bankruptcy; casualdining; economy; fl; food; redlobster; restaurant
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Seafood lovers alert. It used to be a Darden brand, but was sold to a Thai seafood supplier.
1
posted on
04/16/2024 6:40:18 PM PDT
by
Zhang Fei
To: Zhang Fei
2
posted on
04/16/2024 6:41:21 PM PDT
by
henkster
(He's got a day time job; he's doing all right)
To: Zhang Fei
3
posted on
04/16/2024 6:42:06 PM PDT
by
EvilCapitalist
(Pets are no substitute for children)
To: Zhang Fei
Can they take Olive Garden with it?
4
posted on
04/16/2024 6:42:20 PM PDT
by
Vermont Lt
(Don’t vote for anyone over 70 years old. Get rid of the geriatric politicians.)
To: Zhang Fei
No, not the cheddar bay biscuits!
CC
5
posted on
04/16/2024 6:42:52 PM PDT
by
Celtic Conservative
(My cats are more amusing than 200 channels worth of TV.)
To: Zhang Fei
It actually used to be an awesome restaurant.
Poorly run and catering to a customer base that is disappearing is always a losing proposition.
6
posted on
04/16/2024 6:43:52 PM PDT
by
Roman_War_Criminal
(Jesus + Something = Nothing ; Jesus + Nothing = Everything )
To: Zhang Fei
I still haven’t gotten over Arthur Treachers going under.
To: Vermont Lt
Can they take Olive Garden with it? Olive Garden is to Italian food what tilapia is to seafood.
8
posted on
04/16/2024 6:49:33 PM PDT
by
thegagline
(Sic semper tyrannis! Goldwater & Thomas Sowell in 2024)
To: EvilCapitalist
I read recently they were losing $$ on the endless shrimp but intended to continue it because it brought in customers.
“We lose money on every sale, but we’ll make it up in volume!”
9
posted on
04/16/2024 6:50:18 PM PDT
by
Wasichu
To: Zhang Fei
10
posted on
04/16/2024 6:52:59 PM PDT
by
TChad
To: Roman_War_Criminal
Poorly run...
Ditto. Daughter and I ate at our nearby one in Tyler, TX, for the final time, approx 10-yrs ago. She ordered snow crab legs. They came out on her plate still frozen. Swore to never eat at another again.
11
posted on
04/16/2024 6:56:32 PM PDT
by
Deepeasttx
( Sensitivity/diversity training, along with DEI are all un-walled reeducation camps....for now.)
To: Zhang Fei
12
posted on
04/16/2024 7:04:37 PM PDT
by
logi_cal869
(-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)
To: Vermont Lt
13
posted on
04/16/2024 7:05:41 PM PDT
by
logi_cal869
(-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)
To: Tijeras_Slim
Same here. I think i was maybe 10 years old the last time i ate at one and it was awesome.
To: thegagline
15
posted on
04/16/2024 7:06:16 PM PDT
by
logi_cal869
(-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)
To: Zhang Fei
Their Cheddar Bay Biscuits are the only thing worth eating.
16
posted on
04/16/2024 7:11:44 PM PDT
by
Brandonmark
(November 2024 cannot come soon enough!)
To: Deepeasttx
Daughter and I ate at our nearby one in Tyler, TX, for the final time, approx 10-yrs ago. She ordered snow crab legs. They serve crab legs in Texas?
17
posted on
04/16/2024 7:15:52 PM PDT
by
nwrep
To: Zhang Fei
Use to be good eating but something went wrong!
To: Brandonmark
You can buy boxed Cheddar Bay Biscuit mix at the grocery store and bake them at home. We make them every so often, but I haven’t been to Dead Lobster in about 30 years.
To: Zhang Fei
20
posted on
04/16/2024 7:45:44 PM PDT
by
Red Badger
(Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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