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Red Lobster considers filing for Chapter 11 bankruptcy As reported earlier, Red Lobster was considering filing for Chapter 11 bankruptcy after a failed promotion cost it millions of dollars ...
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 ...
Red Lobster is exiting Chapter 11 bankruptcy after a federal judge on Thursday approved the seafood restaurant chain's plan to rebound from an "endless shrimp" fiasco, massive debt, dozens of ...
Red Lobster is looking to file for Chapter 11 bankruptcy to restructure its debts after attempting a promotion that sank the seafood restaurant chain's bottom line, according to Bloomberg.
After months of dozens of restaurant closings and headlines about “endless shrimp” woes, Red Lobster says it will soon exit from Chapter 11 bankruptcy protection. A U.S. bankruptcy judge on ...
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 considered filing for bankruptcy in April The seafood chain considered filing for Chapter 11 bankruptcy last month in an effort to restructure its debt, according to Bloomberg .
In 2017, Moody’s Ratings, an independent ratings agency, downgraded Red Lobster to a negative outlook from stable. Moody’s cited the chain’s “persistently high leverage,” or debt.