Red Lobster ‘Bankruptcy’ Scare: CFO Blames Unlimited Shrimp Deal, Pricey Labor and Leases
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. … Read more
