_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 dabana challenge 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: 470K times
✓ Published: 21-May-2024
👁 View: 470K 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
_nfl-schedule-challenges-and-the-18-game-season-debate.webp "NFL Schedule Challenges and the 18-Game Season Debate from dabana challenge")
_gala-daba-rhi-thi-mera.webp "Rex Shorts")
_live-2023.webp "Trending kavi")
_leeds-rhinos-head-for-wembley.webp "Leeds Rhinos coach Lois Forsell, middle, player of the match Ruby Enright, left and England star Keara Bennett reflect on a return to Wembley after their Women's Challenge Cup semi-final win against Wigan.")
_this-act-on-an-air-balloon-scared-shilpa-shetty-124-india39s-got-talent-season-9-124shocking-performances.webp "SET India")
This Act On An Air Balloon Scared Shilpa Shetty | India's Got Talent Season 9 |Shocking Performances
⏲ 8 minutes 44 seconds 👁 5.2M
_it-feels-too-early-for-network-tv-to-start-canceling-shows-but-nbc-just-got-the-ball-rolling.webp "The TV season looks a bit different this year, given that the since-resolved SAG-AFTRA and WGA strikes had an impact on programming this year. With most shows returning in February this year, we’re truly still in the thick of 2024 network programming. Delays or not though, it’s a bit early to be thinking about cancellations at this point. However, such decisions have already been made over at NBC, it seems. The company got the ball rolling by dropping the ax on two series that fell under the umbrella of unscripted content. <br/><br/>NBC has officially canceled both \")
⏲ 1:15 👁 9.1M
_livechallenge-124124-please-join-with-us.webp "Rama की Kitchen")
_live-challenge-gag-talk-falaka-gala-dabana.webp "Manu Vlogs")
_nfl-schedule-challenges-and-the-18-game-season-debate.jpg)
_gala-daba-rhi-thi-mera.jpg)
_live-2023.jpg)
_leeds-rhinos-head-for-wembley.jpg)
_this-act-on-an-air-balloon-scared-shilpa-shetty-124-india39s-got-talent-season-9-124shocking-performances.jpg)
_it-feels-too-early-for-network-tv-to-start-canceling-shows-but-nbc-just-got-the-ball-rolling.jpg)
_livechallenge-124124-please-join-with-us.jpg)
_live-challenge-gag-talk-falaka-gala-dabana.jpg)
![[+]](/images/menu.gif){kind=small}