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Red Lobster said Thursday that it expects to operate about 544 locations across the U.S. and Canada upon emerging from bankruptcy. That's down from 578 disclosed as of May's bankruptcy filing.
According to Bloomberg, Red Lobster is considering a Chapter 11 bankruptcy filing in hopes of restructuring its debts. The company has reportedly received advice from law firm King & Spalding and ...
Red Lobster started in 1968 in Lakeland, Florida, by Bill Darden and Charley Woodsby. After going through several changes in ownership, it is now owned by Thai Union Group.
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 has filed for voluntary Chapter 11 bankruptcy in Florida, ... But it failed to regain its footing after the pandemic. Between 2019 and 2023, U.S. sales fell 13% on net. The privately ...
Red Lobster’s new 35-year-old CEO is opening up about the restaurant chain’s all-you-can-eat shrimp fiasco which helped cost the business millions after it became all too popular with customers.
In 2023, Red Lobster was further knocked off balance by its $20 endless shrimp offer that became much more popular with customers than anticipated. The all-you-can-eat menu option was previously a ...
The troubled Red Lobster restaurant chain is closing down at least 48 of its roughly 650 branches across the US, according to a restaurant liquidation company. Neal Sherman, the chief executive of ...