Red Lobster's Bankruptcy Renews Interest in Horror Film
Friday, 24 May 2024 An award-winning horror short set in Red Lobster never got a proper release because the chain got wind of the flick and told the director to throw it overboard. Robin Comisar, writer and director of "Great Choice" -- which gained a cult following…
Flavor Flav Orders Entire Red Lobster Menu , to Help Chain After Bankruptcy Filing.
Flavor Flav Orders Entire Red Lobster Menu , to Help Chain After Bankruptcy Filing.
Red Lobster filed for
Chapter 11 bankruptcy last month.
Days before doing so, the chain
closed nearly 100 locations. .
On June 3, rapper Flavor Flav took to X to show his support for the restaurant. .
Ya boy meant it when I said I was
gonna do anything and everything
to help @redlobster and save
the cheddar bay biscuits, Flavor Flav, via X.
Ordered the whole menu!!!, Flavor Flav, via X.
In an additional post, the 65-year-old said
that he shared the food with his family.
Red Lobster commented beneath his post, saying, "It's flavor time, boyeeeeeeee.".
Red Lobster commented beneath his post, saying, "It's flavor time, boyeeeeeeee.".
Many blame Red Lobster's turbulence
on Thai Union's mismanagement.
The company took over the chain
in 2020 and owns a 49% stake.
Les Foreman, a former West Coast division vice president who worked at Red Lobster for 20 years, .
told CNN, "It was miserable working there
for the last year and a half I was there.".
They didn’t have any idea
about running a restaurant
company in the United States, Les Foreman, a former West Coast division vice president, to CNN
Credit: Wibbitz Top Stories Duration: 01:31Published
Red Lobster Says , Locations Will Stay Open , After Filing For Bankruptcy.
On May 19, Red Lobster confirmed in
a statement that the company has filed for
voluntary Chapter 11 bankruptcy in Florida. .
NBC reports that the largest seafood chain in
the United States said that filing for Chapter 11 will , "drive operational improvements, simplify the business
through a reduction in locations, and pursue a sale
of substantially all of its assets as a going concern.".
In a so-called stalking horse arrangement, Red Lobster
will sell the entire business to a new entity that is
completely owned and controlled by lenders. .
According to the company, lenders have
provided $100 million in financial commitments
to fund the chain's ongoing operations.
According to the company, lenders have
provided $100 million in financial commitments
to fund the chain's ongoing operations.
NBC reports that the company's bankruptcy
petition lists Red Lobster's assets at a value
between $1 billion and $10 billion.
The chain stressed that despite closing around
99 locations across the U.S., remaining locations
will remain open during the bankruptcy process.
The company added that it has been , "working with vendors to ensure
that operations are unaffected.".
This restructuring is the best path
forward for Red Lobster. It allows
us to address several financial and
operational challenges and emerge
stronger and re-focused on our growth, Jonathan Tibus, Red Lobster CEO, via NBC.
The 56-year-old chain was founded back in 1968.
By 2019, Red Lobster had expanded to include
nearly 700 locations across the country.
NBC reports that the company has struggled
under a growing debt load after failing to regain
a foothold following the COVID-19 pandemic.
Credit: Wibbitz Top Stories Duration: 01:31Published
An award-winning horror short set in Red Lobster never got a proper release because the chain got wind of the flick and told the director to throw it overboard.
Robin Comisar, writer and director of..
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