May 21, 2024 BY Elizabeth Anderson
Unlimited Shrimp Promotion Sinks Red Lobster’s Liquidity
In its Chapter 11 filing, the Florida-based chain listed assets and liabilities between $1bn and $10bn each. Under this petition, the company can continue operations while devising debt repayment plans. Red Lobster will reportedly allow its lenders to control the organisation. According to Bloomberg, these financiers agreed to pay $100m to help the company through…
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