Red Lobster in the US declared bankruptcy, citing escalating losses from promotions

Описание: ‪@4sidestvhindilive‬ #news #breakingnews

The operating company behind the renowned American seafood restaurant chain, Red Lobster, has initiated bankruptcy proceedings under Chapter 11 of the Federal Bankruptcy Code. The move, akin to Japan's Civil Rehabilitation Act, comes amidst mounting challenges exacerbated by the COVID-19 pandemic and strategic menu changes, particularly the transition from all-you-can-eat shrimp promotions to a fixed menu. Despite the setback, Red Lobster plans to maintain operations during the restructuring process, albeit with a reduction in the number of stores.
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