Red Lobster, which used to be a seafood giant, is on the brink of bankruptcy due to managerial missteps that started in 2003 with no recovery decades later.
Tags: Bankruptcy
Rite Aid to Close 27 US Outlets as Drugstore Chain Faces Federal Bankruptcy
Rite Aid is closing more than 20 US stores, according to court documents filed this week in its federal bankruptcy case.
Spirit Airlines CEO Denies Bankruptcy Plans Amid Market Struggles
Spirit Airlines CEO reassured that they are not considering Chapter 11 bankruptcy following the collapse of its acquisition by JetBlue Airways.
Red Lobster Goes Bankrupt After $20 Unlimited Shrimp Offer Backfires
Red Lobster has filed for Chapter 11 bankruptcy protection, citing high operational costs and an unprofitable unlimited shrimp promotion. It plans to transfer control to its lenders with $100 million in financing from Fortress Investment Group.
Bankrupt Crypto Lender Genesis Global to Return $3 Billion to Customers
Genesis Global, a bankrupt crypto lending firm, has been allowed by a court to return approximately $3 billion in cash and cryptocurrency to its customers.
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Joann Fabrics, a stalwart in the industry for 80 years, faces bankruptcy due to overwhelming debt. However, with new financing, it aims for a swift restructuring to maintain operations.
Fisker's stock fell over 40% in after-hours trading on Wednesday, raising investor concerns about the EV company's future.
The future of two prominent venues of the Sundance Film Festival in Utah hangs in the balance as their owner, Metropolitan Theaters Corporation, filed for Chapter 11 bankruptcy.
Regions Center Owners File for Chapter 11 Bankruptcy Owners of the 30-story Regions Center in downtown Little Rock filed for Chapter 11 bankruptcy protection on Dec.
Nick Denton is still living a lavish life and wont stop him by doing so even though he filed for bankruptcy because of wrestler Hulk Hogan.
Peabody just filed for bankruptcy protection on Wednesday after it announced its situation the previous weeks. Assets in Mexico and Colorado will no longer be sold as buyer was not able to complete the deal.
SunEdison is facing another lawsuit, this time from its subsidiary TerraForm. TerraForm accused its parent company for misallocating cash for its projects in India to SunEdison’s own balance sheet.
SunEdison is about to file bankruptcy protection to safeguard itself from creditors while trying to recover from its losses while it continues to operate. At the same time it is being investigated by the Securities and Exchange Commission over possible overstating.
The aggressive buying binge of SunEdison Inc has resulted in a total debt of $12 billion. The US-based clean-energy company may seek bankruptcy protection.
