Red Lobster Considers Bankruptcy to Deal With Leases and Labor Costs
Credit: Reshmi Basu/ Bloomberg News

“Red Lobster has been getting advice from law firm King & Spalding, said the people, who asked not to be identified discussing a private matter. The dining chain is considering a possible Chapter 11 filing to shed some long-term contracts and renegotiate a swath of leases, the people said.”