_red-lobster-files-for-chapter-11-bankruptcy-as-pandemic-and-industry-challenges-impact-iconic-seafood-chain.jpg "Red Lobster Files for Chapter 11 Bankruptcy as Pandemic and Industry Challenges Impact Iconic Seafood Chain from jonathan lindenmuth Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 0:42
👁 View: 560K times
✓ Published: 21-May-2024
👁 View: 560K times
✓ Published: 21-May-2024
Description:
Red Lobster has filed for Chapter 11 bankruptcy protection after closing over 50 locations across more than 20 states. The seafood chain has been struggling with rising lease and labor costs in recent years and promotions like its iconic all-you-can-eat shrimp deal that resulted in millions in losses due to overwhelming demand. Red Lobster CEO Jonathan Tibus, a corporate restructuring specialist, took over in March as the company sought bankruptcy protection. Thai Union Group, a minority investor and one of the world's largest seafood suppliers, announced plans earlier this year to exit its investment in Red Lobster due to the impacts of the pandemic and industry headwinds.
Red Lobster has filed for Chapter 11 bankruptcy protection after closing over 50 locations across more than 20 states. The seafood chain has been struggling with rising lease and labor costs in recent years and promotions like its iconic all-you-can-eat shrimp deal that resulted in millions in losses due to overwhelming demand. Red Lobster CEO Jonathan Tibus, a corporate restructuring specialist, took over in March as the company sought bankruptcy protection. Thai Union Group, a minority investor and one of the world's largest seafood suppliers, announced plans earlier this year to exit its investment in Red Lobster due to the impacts of the pandemic and industry headwinds.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
Related Videos
_05-26-24-740am-25th-pastoral-anniversary-guest-speaker-pastor-jeffrey-johnson-sr.webp "Mt Zion Progressive Missionary Baptist Church")
⏲ 1 hour 51 minutes 43 seconds 👁 188
_meatballs.webp "KPRC 2 Click2Houston")
_early-qb-rankings-2024-patrick-mahomes-tops-the-list.webp "Early QB Rankings 2024: Patrick Mahomes Tops the List from jonathan lindenmuth")
_metro-police-spokesperson-gives-details-on-fatal-nashville-shooting.webp "Tennessean")
_jonathan-van-ness-124-pop-quiz-124-marie-claire.webp "In honor of his Netflix show, Jonathan Van Ness took a stab at Marie Claire's \")
_five-teens-charged-for-murder-after-throwing-rocks.webp "CBS Mornings")
_what-is-a-wireless-access-point.webp "NexGenT")
_evans-hopes-ten-hag-stays-after-united-lift-fa-cup.webp "Jonny Evans gives his backing to the United boss after their win over Manchester City")
_05-26-24-740am-25th-pastoral-anniversary-guest-speaker-pastor-jeffrey-johnson-sr.jpg)
_meatballs.jpg)
_early-qb-rankings-2024-patrick-mahomes-tops-the-list.jpg)
_metro-police-spokesperson-gives-details-on-fatal-nashville-shooting.jpg)
_jonathan-van-ness-124-pop-quiz-124-marie-claire.jpg)
_five-teens-charged-for-murder-after-throwing-rocks.jpg)
_what-is-a-wireless-access-point.jpg)
_evans-hopes-ten-hag-stays-after-united-lift-fa-cup.jpg)
![[+]](/images/menu.gif){kind=small}