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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
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To: Zhang Fei

The Applebees of fish.


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)
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To: Zhang Fei

Too much endless shrimp?


3 posted on 04/16/2024 6:42:06 PM PDT by EvilCapitalist (Pets are no substitute for children)
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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.)
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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.)
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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 )
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To: Zhang Fei

I still haven’t gotten over Arthur Treachers going under.


7 posted on 04/16/2024 6:46:45 PM PDT by Tijeras_Slim
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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)
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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
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To: Zhang Fei

No more crab legs? Boo!


10 posted on 04/16/2024 6:52:59 PM PDT by TChad
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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.)
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To: Zhang Fei

Good. Rotten chain.


12 posted on 04/16/2024 7:04:37 PM PDT by logi_cal869 (-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)
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To: Vermont Lt

No kidding.


13 posted on 04/16/2024 7:05:41 PM PDT by logi_cal869 (-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)
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To: Tijeras_Slim

Same here. I think i was maybe 10 years old the last time i ate at one and it was awesome.


14 posted on 04/16/2024 7:06:14 PM PDT by posterchild
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To: thegagline

Worms to seafood.


15 posted on 04/16/2024 7:06:16 PM PDT by logi_cal869 (-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)
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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!)
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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
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To: Zhang Fei

Use to be good eating but something went wrong!


18 posted on 04/16/2024 7:16:49 PM PDT by TribalPrincess2U (Bye done!)
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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.


19 posted on 04/16/2024 7:22:04 PM PDT by HartleyMBaldwin
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To: Zhang Fei

They suck....


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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