Canadian court approves Red Lobster restructuring plan, company will exit bankruptcy

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 62 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 99%

Business News News

Business Business Latest News,Business Business Headlines

A Canadian court has cleared the reorganization plan of Red Lobster that will see the seafood chain exit bankruptcy.

Justice Peter Cavanagh of the Superior Court of Justice in Toronto on Tuesday granted an order that recognizes and gives force to the plan approved by a U.S. bankruptcy judge last week.The plan is expected to allow all 27 restaurant locations in Canada to remain open as part of the roughly 544 total locations that will stay in operation, which is down from 578 as of May's bankruptcy filing.

An American presidential historian is predicting a Kamala Harris presidency as the outcome of the upcoming U.S. elections in November.NDP Leader Jagmeet Singh convenes caucus in Montreal to plot post-deal path forward 'Beautiful in its own way': New forest emerges in Jasper National Park, bringing protection and new opportunities

Brenda Tremblay has been an avid gardener for the last 40 years, but this year’s harvest in Colpitts Settlement, N.B., is a tough nut to crack.The national union for RCMP officers is seeking to make public safety and bail reform a British Columbia election issue after repeat offenders were arrested for violent crimes, including a pair of gruesome attacks in downtown Vancouver last week.Half of B.C.

Ottawa Senators owner Michael Andlauer admits there's been "more hurdles than meets the eyes" in talks to build a new arena at LeBreton Flats, with the clock ticking towards the deadline to finalize a deal.The O-Train was out of service for more than an hour Tuesday morning "due to a technical issue with cameras on the trains," according to OC Transpo. Full train service resumed just after 8 a.m.The National Rent Report from Rentals.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Red Lobster’s ‘ultimate’ endless shrimp deal backfires, costing company millionsRed Lobster announced its 'ultimate endless shrimp' deal would become part of its regular menu back in June, a move it hoped would bring in more diners in the summer and fall, when its restaurants are at their emptiest. It worked, but it also left the company with an $11 million loss in their third quarter.
Source: GlobalCalgary - 🏆 50. / 61 Read more »