Red Lobster Could Close Another 135 Restaurants After Filing for Bankruptcy
Red Lobster faces having to close more than 100 more restaurants if it can’t renegotiate rents for its buildings for cheaper prices, court documents show. The seafood chain abruptly closed 93 of its roughly 700 locations in May and filed for Chapter 11 bankruptcy protection, after which it said 135 locations were “at risk of […]
Flavor Flav orders ‘whole menu’ at Red Lobster amid bankruptcy woes
Call him the flavor savior. Flavor Flav expressed his unwavering support for the struggling Red Lobster on Wednesday after the chain filed for bankruptcy. “I meant it when I said I’d do anything to help Red Lobster and save Cheddar Bay Biscuits,” the 65-year-old hip-hop legend said. Share with X Monday. “I ordered everything on […]
Mohamed Hadid claims he’s the ‘victim’ in bitter feud with lender after filing fifth bankruptcy
Cash-strapped real estate developer Mohamed Hadid Celebrity Jonathan Hadid, father of supermodels Gigi Hadid and Bella Hadid, claims he is the “victim” of unscrupulous lenders after filing for bankruptcy over a prized California property, The Washington Post has learned. Hadid, who made a cameo appearance on “The Real Housewives of Beverly Hills” with her ex-wife […]
Romance Writers of America files for bankruptcy amid racism spat
See what’s clicking on FoxBusiness.com Hang up the ripped bodice, tell Fabio the bad news, and call the lawyers: The National Association of Romance Writers of America, a nonprofit that helps romance authors build their careers, is heading to bankruptcy court. Like many romantic troubles, the trouble started at a hotel — specifically, the hotel […]
WeWork cleared to exit bankruptcy as it moves on from Adam Neumann
A U.S. bankruptcy judge on Thursday approved WeWork’s Chapter 11 bankruptcy plan, allowing the shared office space provider to eliminate $4 billion in debt and transfer its shares to a group of lenders and real estate technology company Yardi Systems. WeWork used its bankruptcy to negotiate significant reductions in its future rent costs with its […]
Steward pensions face new questions with hospitals in bankruptcy – The Boston Globe
“Bankruptcy is [pension] “The plan is going to fail,” said Julie Pinkham, executive director of the Massachusetts Nurses Association and a trustee of the Nurses Retirement System. “We won’t know until we see how things play out for the hospitals.” The future of pensions — whether workers can count on them for the long term […]
Former Red Lobster execs describe ‘miserable’ work environment, Thai company’s overhaul before bankruptcy filing
Former executives and senior managers at Red Lobster have described “devastating” work conditions in a new report after a major Thai seafood company took control, leading to the company’s sudden collapse. The Orlando, Florida-based chain filed for Chapter 11 bankruptcy protection on May 19 after abruptly closing nearly 100 stores last week. The filing comes […]
Social Security’s impending bankruptcy doesn’t resonate with voters, yet
I am not a constitutional lawyer, but I see nearly zero chance that funding Social Security out of the general fund would be allowed for any significant length of time. It is at best a fool’s errand to hold out hope that Congress will be able to float the program’s imbalances out of the general […]
Antonio Brown files for bankruptcy, owes creditors $3 million
Antonio Brown is bankrupt. The controversial and mercurial former NFL receiver filed for federal bankruptcy in Florida on Monday, owing about $3 million to eight creditors. According to a report in the Times Union. The former owner of the Albany Empire Arena Football League team won’t be able to pay at least three six-figure civil […]
Red Lobster not going out of business despite filing for bankruptcy
Check out what’s being clicked on FoxBusiness.com Red Lobster sought to reassure customers that filing for Chapter 11 bankruptcy would not mean it would go out of business. The company issued a statement Tuesday acknowledging its current financial difficulties and stressing that its legal restructuring will allow it to strengthen its remaining restaurant locations. “Bankruptcy […]