Red Lobster considers bankruptcy: reports
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NEW YORK (PIX11) – The popular restaurant chain, Red Lobster, is considering filing for bankruptcy, according to Bloomberg.
Debt issues and expenses like labor costs are to blame, the report said.
A bankruptcy filing doesn't necessarily mean that Red Lobster will disappear, but will give the chain an opportunity to restructure its debt.
Erin Pflaumer is a digital content producer from Long Island who has covered both local and national news since 2018. She joined PIX11 in 2023. See more of her work here.