Red Lobster 'Bankruptcy' Scare: CFO Blames Unlimited Shrimp Deal, Pricey Labour and Leases
by International Business Times UK
International Business Times UK— Facing mounting debt and declining sales, Red Lobster mulls Chapter 11 bankruptcy. The seafood chain reportedly seeks a Chapter 11 filing to shed burdensome contracts and negotiate more favourable lease terms.Squeezed by unfavourable leases and labour costs, Red Lobster seeks help from King & Spalding, a commercial law firm, to restructure and reduce expenses. In a desperate bid to reverse declining sales in 2023, Red Lobster launched an "all-you-can-eat shrimp" promotion.However, the CFO partly...
The London Economic—Shrimp Shack to give out free shrimp on National Shrimp Day. Friday 10th May is the day to claim your free shrimp at popular Shrimp Shack in Streatham - but you have to to know the password!
Drudge Report—Demise of RED LOBSTER case study in how to kill business. Demise of RED LOBSTER case study in how to kill business (Second column, 9th story, link) Related stories:Robots making burger and fries can lead to greater income inequality Drudge Report Feed needs your support! Become a Patron
Honolulu Star-Advertiser—Letter: Red tape to blame for lack of Maui housing. Time for Hawaii politicians to be real with their constituents instead of pandering to the disadvantaged with their shell game. Displaced Maui residents need housing now. There is no excuse for not providing modular housing like other communities struck by catastrophe, such as Louisiana after Hurricane Katrina.