Red Lobster’s recent "Ultimate Endless Shrimp" fiasco, in which the chain made the normally-limited promotion a permanent offering in June 2023, overwhelmed restaurants – and reportedly contributed to millions in losses. Maintaining stability at the Florida chain has also been problematic due to ...
Red Lobster said it will use the bankruptcy proceedings to simplify its operations, close restaurants and pursue a sale. As part of the filings, Red Lobster has entered into a so-called “stalking horse” agreement, meaning it plans to sell its business to an entity formed and controlled by ...
Red Lobster filed for bankruptcy in May after struggling with mounting losses and declining customer traffic. At the time of filing, the chain announced plans to simplify its business by closing underperforming locations. RELATED:Red Lobster has message for fans after bankruptcy filing Since then, Re...
Red Lobster said it will use the bankruptcy proceedings to simplify its operations, close restaurants and pursue a sale. As part of the filings, Red Lobster has entered into a so-called “stalking horse” agreement, meaning it plans to sell its business to an entity forme...
Red Lobster filed for bankruptcy to restructure in May, and has closed dozens of locations since then in its effort to right the ship. In recent days, it announced it would shutter another 23restaurants across the U.S.after determining that keeping them open would "continue to drive losses"...
Red Lobster,which filed for bankruptcy in May, has consistently lost money for years. In an attempt to boost traffic at its restaurants, the company last year expanded itsall-you-can-eat shrimp deal. Customers' appetites, however, ate into profits as demand overwhelmed what the chain could af...
Red Lobsteris reportedly considering filing for bankruptcy to relieve financial pressures that have weighed on the company. According to areport by Bloombergciting people familiar with the discussions, Red Lobster is weighing a Chapter 11 bankruptcy filing to renegotiate burdensome leases and address oth...
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.
I knew that Red Lobster had filed for bankruptcy and that itsall-you-can-eat shrimp were being blamedfor it lack of profitability. Not at all, Cory Doctorow explains. Blame corporate greed. Ten years of being bled out on rents and flipped from one hedge fund to another has killed Red Lo...
— Red Lobster (@redlobster)July 1, 2024 Red Lobster filed for bankruptcy on May 19 amid growing debt. The court filing came just days after Red Lobster shut dozens of restaurants and stated that the chain filed for voluntary Chapter 11 bankruptcy in Florida, according to theAssociated Press...