Red Lobster seeks a buyer as it looks to avoid bankruptcy filing [Yahoo! Finance]
Darden Restaurants, Inc. (DRI)
Last darden restaurants, inc. earnings: 3/19 07:00 am
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Source: Yahoo! Finance
The company has considered filing for bankruptcy to help it restructure its debt and get out of a number of costly and lengthy leases, but it's also sought a buyer in recent months, people familiar with the matter told CNBC. At least one firm had been interested in buying the chain, but a deal never came to fruition. It's unclear how the chain will ultimately resolve its financial woes. Red Lobster could secure a buyer, it could declare bankruptcy or its lenders could take control of the company. Even if Red Lobster finds a buyer, it would be hard for it to avoid filing for Chapter 11 as it is trying to get out of many leases and those contracts can be difficult to break outside of bankruptcy, the people said. Bloomberg first reported that Red Lobster was mulling a Chapter 11 filing last week. Red Lobster didn't return a request for comment from CNBC. The longtime chain, known for its cheddar bay biscuits and unlimited shrimp, is looking for a new home at a time when capita
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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 [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
- Red Lobster May Soon File for Chapter 11 Bankruptcy, Here's Why [Yahoo! Finance]Yahoo! Finance
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