Topline
Red Lobster announced late Sunday it filed for bankruptcy, days after it began shuttering dozens of restaurants— after years of struggling with ownership turnover, plateauing sales and financial issues exacerbated by debt, the pandemic and an all-you-can-eat shrimp deal.
The seafood restaurant chain announced it filed for Chapter 11 bankruptcy Sunday, less than a week … [+]
Key Facts
Red Lobster said Sunday its restaurants will remain operational through the Chapter 11 bankruptcy process while closing some locations, which CEO Jonathan Tibus called “the best path forward” as the company…
