Everything We Know About Red Lobster’s Chapter 11 Bankruptcy Filing

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Everything We Know About Red Lobster’s Chapter 11 Bankruptcy Filing

Red Lobster Management confirmed on Sunday that the company has “voluntarily filed for relief under Chapter 11 of the Bankruptcy Code” in the U.S. Bankruptcy Court for the Middle District of Florida.

Reports of a possible bankruptcy filing have been swirling for months and intensified last week when news broke that the seafood restaurant chain closed and vacated 93 locations. Now the bankruptcy filing is official, with the company intending to use the proceedings to “drive operational improvements, simplify the business through a reduction in locations, and pursue a...

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