@Dexerto Noooo not the cheddar biscuits take Applebees instead
@Dexerto I’ve never gone. Kinda sad though. Is their lobster actually good?
@Dexerto Nicki Minaj needs to save them! x.com/kinglevnar/sta…
@Dexerto Nicki Minaj needs to save them! x.com/kinglevnar/sta…
@Dexerto We CAN NOT let those biscuits become discontinued!!!
@Dexerto Guess not enough guys were fucking their girls good to get taken there.
@Dexerto IG nobody’s been getting fucked good lately
@Dexerto Omg where am I gonna go when I want to cry into seafood
@Dexerto We must save the biscuits!!!
Some context: Red Lobster, the iconic seafood restaurant chain, is reportedly considering filing for bankruptcy as it looks to restructure its debt. According to sources familiar with the matter, the company is mulling a Chapter 11 bankruptcy filing, which would allow it to keep operating while it works to shore up its financial position. This move comes as Red Lobster faces challenges related to leases and labor costs, among other issues. Seafood restaurant chain Red Lobster is reportedly considering a Chapter 11 bankruptcy filing as it looks to restructure its debt, according to people with knowledge of the matter. The company has been getting advice from law firm King & Spalding and is considering a possible Chapter 11 filing to shed some long-term contracts and renegotiate a swath of leases. The financial challenges faced by Red Lobster are not new; the company has been struggling in recent years due to a combination of leadership stumbles, strategic missteps, and economic challenges. In 2023, the chain lost $33 million as traffic slowed and food and labor costs skyrocketed. As a result, Red Lobster shuttered 16 restaurants last year. Thai Union Group, the current owner of Red Lobster, has been facing difficulties as well. The company wrote down its stake in the business earlier this year, citing that Red Lobster's ongoing financial requirements no longer align with Thai Union's capital allocation priorities. Thai Union took control of the company in 2021, after acquiring a 25% stake in 2016 and buying the remaining stake in 2020. A Chapter 11 bankruptcy filing would allow Red Lobster to continue operating while it works to restructure its debt and negotiate with creditors. The company is reportedly in talks with law firm King & Spalding to divest itself from long-term contracts and renegotiate leases. If Red Lobster proceeds with the bankruptcy filing, it would mark a significant moment in the history of the company, which traces its roots back to 1968 in Lakeland, Florida. Despite the challenges, Red Lobster remains a popular destination for seafood lovers, known for its famous cheese-flavored biscuits and a wide variety of seafood dishes. The company operates hundreds of locations across the United States and Canada, as well as international franchises. As the situation develops, it remains to be seen how Red Lobster will navigate its financial difficulties and whether a Chapter 11 bankruptcy filing will ultimately help the company to return to a more stable financial footing.