Red Lobster considering bankruptcy filing: report [FOX Business Network]
Darden Restaurants, Inc. (DRI)
Last darden restaurants, inc. earnings: 3/19 07:00 am
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Source: FOX Business Network
Red Lobster is reportedly considering filing for bankruptcy to relieve financial pressures that have weighed on the company. According to a report by Bloomberg citing people familiar with the discussions, Red Lobster is weighing a Chapter 11 bankruptcy filing to renegotiate burdensome leases and address other long-term contracts as well as rising labor costs. The outlet reported that the seafood restaurant chain is being advised by law firm King & Spalding on the subject, and that while discussions about restructuring are ongoing and that no final decisions have been made about a bankruptcy filing By filing for Chapter 11 bankruptcy, the company could continue to operate while it works with creditors and investors to put in place a debt reduction plan that would allow it to head into the future on a better financial footing. Red Lobster did not immediately respond to a request for comment. The seafood chain has had a variety of owners and major investors since it was founde
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DRI
News
- Darden Restaurants' (NYSE:DRI) Returns On Capital Not Reflecting Well On The Business [Yahoo! Finance]Yahoo! Finance
- Red Lobster seeks a buyer as it looks to avoid bankruptcy filing [Yahoo! Finance]Yahoo! Finance
- Red Lobster seeks a buyer as it looks to avoid bankruptcy filing [CNBC]CNBC
- Darden Restaurants: An Appetizing Dividend Growth Stock [Seeking Alpha]Seeking Alpha
- Darden Restaurants, Inc. (NYSE: DRI) had its "buy" rating re-affirmed by analysts at TD Cowen. They now have a $190.00 price target on the stock.MarketBeat
DRI
Earnings
- 3/21/24 - Miss
DRI
Sec Filings
- 4/26/24 - Form 4
- 4/25/24 - Form 144
- 4/9/24 - Form 4
- DRI's page on the SEC website