Red Lobster files for bankruptcy protection — Will restaurants remain open? #food

U.S.-based restaurant chain Red Lobster has filed for Chapter 11 bankruptcy protection in a Florida court after securing US$100 million in financing commitments from its existing lenders, the company said on Sunday. Red Lobster said its restaurants will be open and operate as usual during the bankruptcy proceedings, and plans to reduce its locations as well as pursue a sale of substantially all its assets. #RedLobster #restaurant #food #US #bankruptcy #business