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Market
Red Lobster's operational strategy changes post-restructuring by end of 2024
4
Resolution / Starting Odds
Focuses on digital and delivery services • 25%
Reduces number of physical locations • 25%
Revamps menu to reduce costs • 25%
Expands internationally • 25%
Company press releases, news interviews
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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Chapter 11 Bankruptcy • 33%
Out-of-court restructuring • 33%
Sale of company • 34%
Successful recovery • 33%
Partial recovery • 33%
No recovery • 33%
Successfully restructures • 25%
Fails to restructure and liquidates • 25%
Acquired by another company • 25%
Remains unchanged • 25%
Acquired by another company • 25%
Private equity buyout • 25%
Remains independent • 25%
Liquidation • 25%
Below 50 • 25%
50-100 • 25%
101-150 • 25%
Above 150 • 25%