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 Continue reading
Tag Archives: Foodservice
€400m French distributor buys oyster specialist to target high-end Parisian market
France's Mericq has acquired Maison Blanc, a high-end supplier specializing in oysters and focused on the Paris market Continue reading
Even Portugal’s legendary cod consumption may not withstand soaring prices, fears Riberalves
Portugal's famous demand for cod clipfish is being tested this year by absurdly high raw material prices, as Barents Sea supply tightens Continue reading
Sysco stops buying from Indian shrimp supplier after reports allege environmental, labor issues in sector
Sysco has suspended purchases from an Indian shrimp firm pending further investigation after reports alleging environmental and labor issues are widespread in the Indian shrimp sector Continue reading
Red Lobster introduces contest to welcome back Lobsterfest but with limits
Starting Tuesday (Feb. 20), the giant US seafood restaurant chain said it is giving 150 customers a chance to vie for a complimentary two-hour sitting, replete with unlimited servings of lobster Continue reading
Biden pushed by lawmakers to step up pressure on Sysco over forced labor concerns
'We urge the Biden administration to demand that Sysco Corporation immediately sever all ties with the Chishan group and commit to improved practices to avoid being a part of the scourge of IUU fishing' -- letter from 22 US lawmakers Continue reading
Red Lobster annual loss forecast raised to $20m after major Q3 setback
Thai Union has raised its loss guidance for the chain from $14m to nearly $20m after Q3 losses reverted much of the improvements made in H1 Continue reading
Ex-High Liner CEO Hepponstall takes reins at PE-backed foodservice firm
'Rod has a passion for transforming and growing high-quality food manufacturing businesses, and I am delighted to partner with him to execute CHG’s growth strategy' --Dale Tremblay, C.H. Guenther & Son chairman
Thai Union reportedly taps advisor firms for help with Red Lobster
Bloomberg reports Red Lobster Management has brought in AlixPartners for operational advice as it seeks to address mounting losses Continue reading
Alibaba: China salmon market to add 130,000t by 2030
China's consumption of salmon is expected to reach 210,000t by 2030, a senior executive of Alibaba Group's Taobao and Tmall e-commerce platforms said at a recent conference
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