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Analysis

Red Lobster lays much of bankruptcy blame on former CEO Kenny, Thai Union

'Certain operational decisions by former management have harmed the debtors' financial situation in recent years' -- Jonathan Tibus, CEO of Red Lobster Management

By Jason Huffman | May 21, 2024 18:08 BST
Image from Red Lobster promotion published in late May 2023.
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A Red Lobster restaurant in New York, US. Red Lobster is owned by Thai Union Group. Credit: pisaphotography/Shutterstock.com

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Jonathan Tibus, CEO of Red Lobster Management, has identified multiple culprits for the recent financial woes to have befallen the 56-year-old seafood restaurant giant, causing it to file for Chapter 11 bankruptcy protection on Sunday (May 19) [...]

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