Red Lobster Is Considering Bankruptcy Partly Due to $11 Million Loss from Endless Shrimp Deal: Report [Yahoo! Finance]
Darden Restaurants, Inc. (DRI)
Last darden restaurants, inc. earnings: 3/19 07:00 am
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Source: Yahoo! Finance
Red Lobster is considering a Chapter 11 bankruptcy filing, according to news sources. The restaurant chain is considering filing for bankruptcy amid growing debt, sources with knowledge on the matter told Bloomberg The restaurant has been finding it difficult to make money with their current leases and labor costs, and are currently seeking advice from commercial law firm King & Spalding in order to figure out how to restructure to cut costs, the outlet also reported. The sources said that Red Lobster still hasn't made a final decision when it comes to whether or not to file for bankruptcy, but noted that it would help the business continue to operate while they figure out their next plan, which may include renegotiating some leases and removing some contracts. Red Lobster did not immediately respond to PEOPLE's request for comment. Michael Nagle/Bloomberg/Getty Related: Red Lobster Is Giving Out Free 'Endless Lobster' Dinners to Select Customers This comes amid difficu
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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