Red Lobster has filed for Chapter 11 bankruptcy protection, citing high operational costs and an unprofitable unlimited shrimp promotion. It plans to transfer control to its lenders with $100 million in financing from Fortress Investment Group.
Tags: Bankruptcy
Indonesian Government Promises No Layoffs for 50,000 Employees at Bankrupt Sritex Textile Company
The Indonesian government ensures that 50,000 Sritex employees will not lose their jobs despite the company's bankruptcy.
134-Year-Old Home Goods Retailer Conn’s Files for Bankruptcy, to Close Over 70 US Stores
The company said it had assets and liabilities worth between $1 billion to $10 billion. Conn's HomePlus, a 134-year-old retailer of furniture and electronics, has recently filed for bankruptcy and announced plans to close more than 70 stores nationwide.
RedBox Owner Chicken Soup for the Soul Entertainment Files for Bankruptcy, Reporting $970 Million Debt
Chicken Soup for the Soul Entertainment filed for Chapter 11 bankruptcy, disclosing $970 million in debt.
Bankruptcy Rules for Small Businesses Get Tighter After US Law Expires
The expiration of a popular US law on Friday has tightened bankruptcy rules for mid-sized and small businesses.
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Genesis Global, a bankrupt crypto lending firm, has been allowed by a court to return approximately $3 billion in cash and cryptocurrency to its customers.
Air Vanuatu has filed for bankruptcy protection after it canceled all its international flights, which left thousands of passengers stranded.
The plan, pending court approval, details that almost all customers will be reimbursed the funds they are owed, with some receiving amounts exceeding their original claims.
Red Lobster, which used to be a seafood giant, is on the brink of bankruptcy due to managerial missteps that started in 2003 with no recovery decades later.
Joann Fabrics, a stalwart in the industry for 80 years, faces bankruptcy due to overwhelming debt. However, with new financing, it aims for a swift restructuring to maintain operations.
Fisker's stock fell over 40% in after-hours trading on Wednesday, raising investor concerns about the EV company's future.
The future of two prominent venues of the Sundance Film Festival in Utah hangs in the balance as their owner, Metropolitan Theaters Corporation, filed for Chapter 11 bankruptcy.
Regions Center Owners File for Chapter 11 Bankruptcy Owners of the 30-story Regions Center in downtown Little Rock filed for Chapter 11 bankruptcy protection on Dec.
Nick Denton is still living a lavish life and wont stop him by doing so even though he filed for bankruptcy because of wrestler Hulk Hogan.
