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CLARA MOSCHINI

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Red Lobster: over 1 billion dollars in debt and bankruptcy around the corner

The inexorable decline of the US chain began with the acquisition by Thai Union Group

It had become the largest seafood restaurant chain in the world, bringing affordable shrimp and lobster. Now, however, the time has come for bankruptcy. The company said it has more than $1 billion in debt and less than $30 million in cash. The company's intention is to sell the business to its financiers: in exchange, it will receive the funds to stay afloat. In the meantime, numerous restaurants...

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EFA News - European Food Agency
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