Yahoo Finance Red Lobster Is Filing for Bankruptcy Because of Shrimp
Red Lobster has filed for bankruptcy protection and will sell its assets. WSJ explains what went wrong for the seafood restaurant chain.
Red Lobster has filed for bankruptcy protection and will sell its assets. WSJ explains what went wrong for the seafood restaurant chain.
Red Lobster filed for bankruptcy on Sunday, days after shuttering dozens of locations as the iconic seafood chain struggles.
The world’s largest seafood chain, founded in 1968, declared bankruptcy and is closing restaurants across the country. CNN headed to Times Square’s Red Lobster to ask customers what they’ll miss most.
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. The 56-year-old chain made the filing late Sunday, days after shuttering dozens of restaurants. Tibus, a corporate restructuring expert, took the top post at the chain in March.
Popular seafood chain Red Lobster announced Sunday night it has filed for Chapter 11 bankruptcy in Florida.
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