Red Lobster has filed for Bankruptcy 11 chapter, however don’t concern: You’ll be able to nonetheless get the seafood chain’s well-known buttery Cheddar Bay Biscuit combine in shops around the nation.
Purple Lobster made the submitting overdue Sunday, only a few days after it introduced that it could be shutting down dozens of places within the U.S. amid monetary difficulties. Its eating places will stay open and proceed working right through the chapter court cases, the corporate stated in a press unlock.
“This restructuring is the most efficient trail ahead for Purple Lobster,” Leader Govt Officer Jonathan Tibus stated in a commentary at the eating place chain’s web site. “It lets in us to deal with a number of monetary and operational demanding situations and emerge more potent and re-focused on our expansion. The fortify we’ve gained from our lenders and distributors will assist be sure that we will entire the sale procedure briefly and successfully whilst closing concentrated on our staff and visitors.”
The scoop sparked standard panic on-line, as other folks anxious that they wouldn’t be capable to get their arms at the cheddar biscuits Purple Lobster is understood for. The eating place chain sells a mixture for the biscuits in shops, together with at Walmart and ACME.
“Purple Lobster recordsdata for chapter. Get the ones cheddar biscuits whilst you’ll be able to,” one person posted on X.
However a Purple Lobster spokesperson stated that the biscuit combine can nonetheless be discovered on shop cabinets.
“As of late’s information is not going to impact our partnership with our in-store shopper companions,” the spokesperson stated in an e mail to TIME. “You’ll proceed to look the ones at house merchandise at the cabinets.”
Purple Lobster submitting for chapter comes after the eating place chain has been suffering financially for years. In summer season 2023, Purple Lobster took its in the past limited-time be offering of the “Final Never-ending Shrimp” promotion and made it everlasting. The promotion allowed consumers to pay $20 for never-ending shrimp, and value the eating place chain $11 million, consistent with the chapter submitting.
The Purple Lobster spokesperson may just now not elaborate on how a lot the sale of the cheddar biscuit combine contributes to the eating place chain’s earnings.
On Purple Lobster’s web site, you’ll be able to discover a shop close to you that sells the chain’s Cheddar Bay Biscuit Combine.
