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Market
Red Lobster completes asset sale by August 3, 2024?
5
Resolution / Starting Odds
Yes • 50%
No • 50%
Company press releases, SEC filings
Story
Red Lobster Files for Chapter 11 Bankruptcy Amid $1 Billion Debt
May 20, 2024, 01:14 PM
Red Lobster has officially filed for voluntary Chapter 11 bankruptcy on May 20. The seafood chain reported having over $1 billion in debt and less than $30 million in cash on hand. This filing comes a week after the company closed 48 of its locations.
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