Red Lobster has declared bankruptcy, attributing its downfall to hedge fund mismanagement, corporate self-dealing, an $11 million all-you-can-eat shrimp fiasco, and private equity practices. The chain faces financial troubles despite its 'endless shrimp' deal.
An idea just so crazy it might work: Red Lobster needs a buyer. How does Darden sound? Darden offloaded the chain in 2014 in a less-than-stellar deal for them, but could be a strategic buyer of the troubled chain. https://t.co/QfuOAlU4aH
Red Lobster bankruptcy: What you need to know https://t.co/ucJibwiNi9 https://t.co/YwyGn3u3RU
The demise of Red Lobster as seen from the employees’ point of view. Wow. https://t.co/0Jp0XhwUdR
Ontario judge upholds Red Lobster’s U.S. bankruptcy case in Canada https://t.co/L4BeVZ7Ssn https://t.co/T3EcdqlKPw
Ontario judge to uphold Red Lobster's U.S. bankruptcy case in Canada https://t.co/QWfeP6xwfG
An Ontario judge says he will issue an order Tuesday that recognizes and enforces Red Lobster’s U.S. bankruptcy protection proceedings in Canada. READ MORE: https://t.co/I2mFDH5rX8 https://t.co/I2mFDH5rX8
Red Lobster to discuss bankruptcy case, Canadian assets in Ont. court https://t.co/L4BeVZ7Ssn https://t.co/2YtzTaPjBM
Red Lobster to ask Ontario court to enforce U.S. bankruptcy proceedings https://t.co/UHOUSk7syU https://t.co/p31PATRoLM
Red Lobster Canada to ask Ontario court to enforce U.S. bankruptcy protection proceedings https://t.co/ypr7EFmJqJ
A lawyer for Red Lobster Canada, Inc. says he will ask an Ontario court today to recognize and enforce the chain’s U.S. bankruptcy protection proceedings, a process which documents show could include selling Canadian assets. MORE: https://t.co/X3PRfPsSJE https://t.co/X3PRfPsSJE
Red Lobster in Ontario court to discuss U.S. bankruptcy case, Canadian assets: docs https://t.co/1ydLnbbV5e
What led to the bankruptcy of Red Lobster? It wasn't the endless shrimp. https://t.co/qJYiOsNhIm
Angry that your favorite Red Lobster closed down? Wall Street wizardry had a lot to do with it. https://t.co/I6xfbYizOR
After Red Lobster filed for bankruptcy, some analysts say its woes stemmed from a financing technique favored by private equity. https://t.co/XRlkBuV6DV
Familiar US restaurant chains are navigating the same pressures now-bankrupt rival Red Lobster faced https://t.co/OXimqUQteM
It wasn't the endless shrimp that pinched Red Lobster. How private equity rolled the seafood chain. https://t.co/lk4xUGtsNq via @nbcnews
Red Lobster's bankruptcy was caused by endless greed, not endless shrimp. It's the private equity playbook: take over a company, loot the profits, load it up with debt and leave communities, workers, and customers holding the bag. https://t.co/kq7OfVWXhH
Red Lobster Canada to ask Ontario court to recognize U.S. bankruptcy protection case https://t.co/WtVEim6IEX
It may be the end of an era for beloved seafood chain Red Lobster, which officially declared bankruptcy on Monday after months of speculation and dozens of abrupt restaurant closures. https://t.co/LmxzSkVVgw
Red Lobster is blaming its bankruptcy on a top shareholder and its ex-CEO, saying an $11 million all-you-can-eat shrimp fiasco contributed to its demise. https://t.co/vr1TKuFr7E
🇺🇸 How private equity rolled Red Lobster https://t.co/tiyPcgY3bt
Can you imagine the meetings at Red Lobster where the executives tried to save the flailing restaurant chain? Matt Levine can https://t.co/ZycesPHSX1 via @opinion
This is a fantastic weekend read about Red Lobster’s problems. Great investigative report detailing how hedge fund mismanagement and corporate self-dealing have crashed the company. Worth your time even if you aren’t a patron of the chain https://t.co/UyJ5xyV4oF
Can you imagine the meetings at Red Lobster where the executives tried to save the flailing restaurant chain? Matt Levine can https://t.co/SdLWbHzJSI
A bullying CEO. Feng shui. Interference with suppliers. And endless shrimp. Inside the fall of Red Lobster https://t.co/Cgi0TStQHe
No, Red Lobster's 'endless shrimp' deal is not the main reason the chain went bankrupt https://t.co/ZWHJJA32wq