Headline: Red Lobster Says Locations Will Stay Open After Filing For Bankruptcy
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On May 19, Red Lobster confirmed in a statement that the company has filed for voluntary Chapter 11 bankruptcy in Florida. NBC reports that the largest seafood chain in the United States said that filing for Chapter 11 will , "drive operational improvements, simplify the business through a reduction in locations, and pursue a sale of substantially all of its assets as a going concern."
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