Red Lobster files for bankruptcy after losing millions on ill-fated all-you-can-eat shrimp promotion
Red Lobster’s chief executive claimed there was something fishy about its largest shareholder’s involvement in the ill-fated all-you-can-eat shrimp promotion that caused the nation’s largest seafood chain to file for bankruptcy. The Orlando, Florida-based chain filed for Chapter 11 protection late Sunday after unexpectedly closing nearly 100 stores last week. Red Lobster, which had 650 […]
Rudy Giuliani launches coffee brand amid bankruptcy case and legal woes
He is back to work again. Former New York City Mayor Rudy Giuliani launched a coffee brand on Monday as he crawls out of a mountain of debt and battles multiple criminal charges. For $29.99, you get two pounds of “the finest beans imaginable,” Giuliani said. “If I put my name on something, I truly […]
Red Lobster files for bankruptcy
Red Lobster filed for Chapter 11 bankruptcy on Sunday, announcing it would close numerous restaurants and sell equipment to raise cash. The announcement comes a week after the company closed 48 stores, citing the economic downturn caused by the coronavirus pandemic. The chain has reportedly been considering bankruptcy for more than a month and is […]
Red Lobster files for bankruptcy: What happens now?
(WJET/WFXP) — Less than a week after Red Lobster announced the closure of dozens of restaurants across the United States, the company has officially filed for Chapter 11 bankruptcy protection. The seafood chain has struggled in recent years with rising rent and labor costs. Management failures and poor store performance also contributed to the decision […]
Red Lobster Files for Bankruptcy amid Plans to Close 100 U.S. Locations
Restaurant chain Red Lobster announced Sunday that it has filed for Chapter 11 bankruptcy. The news comes after the all-you-can-eat service was reported to have caused a financial crisis. NBC News report On Monday, the restaurant said it was “pursuing operational improvements, simplifying our operations by reducing the number of locations, and pursuing the sale […]
Red Lobster hired auction company ‘very recently’ before shutting 50 restaurants, may file for bankruptcy next week: sources
Red Lobster, which hurriedly hired a liquidation firm before unexpectedly closing dozens of stores this week, is expected to file for bankruptcy as early as Monday, the Post reported. Auction firm TAGeX Brands was recently hired to sell furniture and equipment from 50 closed Red Lobster restaurants, company founder Neil Sherman told the Post. “I’ve […]
Sam Ash files for bankruptcy after 100 years in music business
Sam Ash is a 100-year-old musical instrument retailer. filed for Chapter 11 bankruptcy The company announced late Wednesday that it intends to close all 42 stores in the United States. Jordan Myers, Sam Ash’s chief restructuring officer, said in court documents that the family-owned company has faced declining sales since the COVID-19 pandemic, which has […]
FTX has raked in billions more than needed to pay bankruptcy victims back
Bankrupt cryptocurrency exchange FTX has raised billions more than it needs to fully repay customers who lost money in its November 2022 collapse. In contrast to typical U.S. bankruptcy proceedings, FTX recently received a 25-year prison sentence for its former CEO Sam Bankman Freed, but its failure was enough to cover the interest. The newspaper […]
‘Nobody seems interested’ in helping Rudy Giuliani with accounting duties in bankruptcy case, lawyers claim
Rudy Giuliani is having trouble finding someone to help with the accounting for his bankruptcy case and may have to do it on his own, his lawyers said in a filing Tuesday. according to filingMr. Giuliani had retained an accountant to help him meet his accounting obligations in the case, but “he has changed his […]
Bill Romanowski Declares Bankruptcy, Allegedly Owes The IRS $15.5 Million In Unpaid Taxes: REPORT
Taxes … they’re something that can break a man. Example A: NFL legend Bill Romanowski filed for bankruptcy Monday and allegedly owes the IRS a whopping $15.5 million in back taxes, according to court records obtained by USA Today. Romanowski and his wife, Julie, are reportedly being hit with accusations from the federal government that […]