As part of these filings, Red Lobster has entered into a stalking horse purchase agreement pursuant to which Red Lobster will sell its business to an entity formed and controlled by its existing term lenders. Red Lobster’s restaurants will remain open and operating as usual during the Chapter 11 process, continuing to be the world’s largest and most-loved seafood restaurant company. About Red Lobster Seafood Co.Red Lobster is where the world goes for seafood, now and for generations. To learn more about Red Lobster, including locations and menu options, please visit http://www.redlobster.com or find us on Facebook, X, Instagram or TikTok. Media[email protected]View original content to download multimedia:https://www.prnewswire.com/news-releases/red-lobster-files-voluntary-chapter-11-petitions-to-strengthen-financial-position-and-maximize-value-for-stakeholders-302149769.htmlSOURCE Red Lobster Seafood Co.Disclaimer: The above press release comes to you under an arrangement with PR Newswire.

Source: The Bubble May 20, 2024 15:50 UTC