The US seafood chain mentioned it has over 100,000 creditors, with assets and liabilities estimated between $1bn and $10bn, signed by CEO Jonathan Tibus, a corporate restructuring expert who joined Red Lobster in March.
TAGeX Brands plans to auction equipment from 50 closed Red Lobster locations, a move tied to the chain's streamlining efforts that include reducing its presence in 20 states like Denver, San Antonio, and Indianapolis.
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