Report Red Lobster is preparing for bankruptcy filing Restaurant Business Online

News Source : Restaurant Business Online

News Summary

Struggling seafood chain Red Lobster is considering filing for Chapter 11 bankruptcy protection
The 650-unit legacy chain has been hobbled in recent years by leadership stumbles and strategic missteps
A bankruptcy filing would allow the chain to keep operating while it works to shore up its financial position

Struggling seafood chain Red Lobster is considering filing for Chapter 11 bankruptcy protection to restructure its debt, according to a report Tuesday from Bloomberg, citing people familiar with the [+1829 chars]

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