Lobster

RapidEye/Getty Images (NEW YORK) — Red Lobster has voluntarily filed for Chapter 11 bankruptcy, according to a recent press release shared with ABC News. The largest seafood chain in the U.S., home to Cheddar Bay biscuits, Lobsterfest, Ultimate Endless Shrimp and more, filed the legal action on May 19 in the U.S. Bankruptcy Court for […]

In this undated file photo, a Red Lobster Restaurant is shown. (Jeff Greenberg/UIG via Getty Images) (NEW YORK) — Red Lobster has abruptly closed at least 99 locations across the country with restaurants shutting their doors in at least 27 states. Tagex Brands, a company that handles restaurant liquidation auctions, told ABC News that Red […]

Via Red Lobster (NEW YORK) — Red Lobster is in hot financial waters, attempting to stay afloat by eyeing Chapter 11 bankruptcy to restructure its debts after an endless shrimp promotion sank the seafood restaurant chain’s bottom line, Bloomberg reported this week. According Bloomberg, the restaurant is considering filing for Chapter 11 on the advice […]