Home > NewsRelease > Collected Strategies Works Red Lobster?s Bankruptcy
Text
Collected Strategies Works Red Lobster?s Bankruptcy
From:
O'Dwyer's Public Relations News O'Dwyer's Public Relations News
For Immediate Release:
Dateline: New York, NY
Monday, May 20, 2024

 
Red Lobster

Collected Strategies handles Red Lobster as the world’s largest seafood chain files for Chapter 11 protection.

It says the reorganization will drive operational improvements, simplify its business via the shutdown of low-performing restaurants, and pave the way for the sale of the business as a going concern.

Red Lobster has entered into a stalking horse purchase agreement that calls for its to sell the business to a group formed and controlled by its existing term lenders.

CEO Jonathan Tibus said the support from lenders and vendors will ensure that the sale of the company will occur quickly and efficiently.

He expects Red Lobster to emerge from the Chapter 11 proceedings as a stronger company focused on growth.

Red Lobster has about 600 restaurants, and has recently closed units in Orlando, San Antonio, Denver and San Diego.

Collected Strategies partners Dan Moore and Jude Gorman work the Red Lobster Chapter 11 filing.

News Media Interview Contact
Name: John O'Dwyer
Title: Publisher
Group: O'Dwyer's Public Relations News
Dateline: New York, NY United States
Direct Phone: 212/679-2471
Jump To O'Dwyer's Public Relations News Jump To O'Dwyer's Public Relations News
Contact Click to Contact