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Thai Union’s Red Lobster files for bankruptcy

Filing for bankruptcy allows Red Lobster to continue operating while it works on a plan to repay creditors; it's entered into a stalking horse purchase agreement to sell its business to an entity formed and controlled by its existing term lenders

By Undercurrent News | May 20, 2024 07:14 BST
Credit: Red Lobster
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Thai Union Group-owned US seafood restaurant chain Red Lobster has filed for bankruptcy, succumbing to onerous leases and high labor costs, reports Bloomberg [...]

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