Red Lobster seeks bankruptcy protection after closing some restaurants

ORLANDO, Florida: Red Lobster, the seafood restaurant chain with 700 locations worldwide, filed for Chapter 11 bankruptcy protection on May 19.

Days earlier, Red Lobster had closed dozens of its restaurants.

"This restructuring is the best path forward for Red Lobster. It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth," said Red Lobster C