red lobster

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

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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

Red Lobster reportedly weighs possible Chapter 11 bankruptcy

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Red Lobster is reportedly weighing a possible Chapter 11 bankruptcy filing in order to restructure its mounting debt. The seafood restaurant chain — which has 649 locations nationwide — has sought advice from law firm King & Spalding on how to shed some long-term contracts and renegotiate a chunk of its leases, people with knowledge … Read more