Joined Mar 2010
L5: Journeyman
Forum Thread
Bloomberg: Red Lobster considering bankruptcy (potential gift card warning)
April 20, 2024 at
06:10 PM
Thread Details
Last Edited by ctujackbauer April 20, 2024 at 06:12 PM
All of the news reports are citing Bloomberg as the source of bankruptcy talks because it hired a bankruptcy advisor. Link here:
Red Lobster Considers Bankruptcy to Deal With Leases and Labor Costs [bloomberg.com]
It is currently unknown if gift cards will be still be available to be used with a new owner or post-bankruptcy, but recent bankruptcies have let consumers use their gift cards unless it's a Souplantation situation (where it closed down all locations during the pandemic and never reopened.)
Red Lobster was acquired by Golden Gate Capital in a private equity buyout from Darden Restaurants, and is currently owned by Thai Union Group.
Red Lobster Considers Bankruptcy to Deal With Leases and Labor Costs [bloomberg.com]
It is currently unknown if gift cards will be still be available to be used with a new owner or post-bankruptcy, but recent bankruptcies have let consumers use their gift cards unless it's a Souplantation situation (where it closed down all locations during the pandemic and never reopened.)
Red Lobster was acquired by Golden Gate Capital in a private equity buyout from Darden Restaurants, and is currently owned by Thai Union Group.
About the OP
0 Comments
Your comment cannot be blank.