NEW YORK (AP) — After months of dozens of restaurant closings and headlines about “endless shrimp” woes, Red Lobster is poised to soon exit from Chapter
NEW YORK — After months of dozens of restaurant closings and headlines about “endless shrimp” woes, Red Lobster is poised to soon exit from Chapter 11 bankruptcy protection.
At the time of filing in May, Red Lobster’s leadership shared plans to “simplify the business” through a reduction of locations. The Orlando, Florida, chain shuttered a number of its North American restaurants in recent months — both leading up to and during the bankruptcy process. That includes more than 50 locations whose equipment was put up for auction just days before the Chapter 11 petition, followed by dozens of additional closures throughout the bankruptcy process.
Under terms of the acquisition, which is expected to close at the end of September, the chain will continue to operate as an independent company.SALEM, Ore. — Country singer Jelly Roll has been playing sold-out shows across the U.S. as part of his “Beautifully Broken” tour. But earlier this week, his venue wasn’t a massive arena: it was the Oregon State Penitentiary.
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