Bankruptcy-Stricken Red Lobster Vows Open Doors Despite Financial Woes, 36,000 Jobs at Stake
Orlando, Florida – Red Lobster, the well-known seafood chain, has recently filed for voluntary Chapter 11 bankruptcy in an effort to strengthen its financial position. Despite this legal move, the company has assured customers that its locations will remain open as it navigates through this restructuring process. The 56-year-old restaurant chain cited a $76 million loss incurred last year, along with a significant decline in guest count since 2019, as reasons for its decision to …