A lawyer representing Red Lobster's Canadian operations says he will ask an Ontario court to recognize and enforce the restaurant chain's Chapter 11 bankruptcy in the U.S. In an email to The Canadian Press, Linc Rogers says he will bring an application to the Ontario Superior Court of Justice on behalf of the Canadian arm of the seafood restaurant on Tuesday. Red Lobster Canada, Inc. is incorporated in Delaware but runs 27 restaurants in Canada and is listed as a "related debtor" in the...
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Red Lobster has filed for bankruptcy just days after closing dozens of its restaurants. In its bankruptcy petition filed on Sunday, May 19, the company listed assets of $1 billion and liabilities of $10 billion. The filing stated that the company "intends to use the proceedings to drive operational improvements, simplify the business through a reduction in locations, and pursue a sale of substantially all of its assets as a going concern." The company said restaurants not listed as...
Red Lobster filed for Chapter 11 bankruptcy late Sunday. The seafood eatery
US seafood restaurant chain has been struggling with lease and labor costs, and promotions such as its all-you-can-eat shrimp dealRed Lobster has filed for Chapter 11 bankruptcy protection days after shuttering dozens of restaurants.The US seafood restaurant chain has been struggling for some time with lease and labor costs piling up in recent years and also promotions such as its signature all-you-can-eat shrimp deal. Continue reading
Red Lobster filed for bankruptcy on Sunday, days after shuttering dozens of locations as the iconic seafood chain struggles.