Bankruptcy

Financing

Report: Red Lobster is preparing for bankruptcy filing

The struggling seafood chain is hoping Chapter 11 protection will help it restructure its debt while keeping its restaurants operating, according to Bloomberg.

Technology

ASAP delivery service files for Chapter 7 bankruptcy

The small company formerly known as Waitr ended its operations Tuesday. It had been struggling to compete with larger delivery players for years.

Industry veteran Jonathan Tibus will take the reins as owner Thai Union Group prepares to sell the seafood chain. He replaces Horace Dawson, who is retiring.

The fast-casual brand was in freefall before it filed for bankruptcy last year. But improved operations and marketing, and a lot of hard work, have helped the chain turn the corner.

A Deeper Dive: Chris Dharod, CEO of the fast-casual chain, joins the podcast to discuss its comeback from last year’s bankruptcy filing.

The fast-casual chain, which emerged from bankruptcy last year, says its sales have surged in recent months. It has brought on new executives and expects to open units this year.

Founder David Pisor said the move is part of a planned restructuring that could include a sale, which is designed to give the troubled restaurant group a fresh start.

Jay Pandya, who declared personal bankruptcy in December only to have it terminated, is again seeking debt protection after his company lost a lawsuit filed by US Foods.

But who, exactly, acquired the intellectual property rights to the buffet brand that will be born again in Arizona?

A trustee had cited flaws in Jay Pandya’s bankruptcy filing and said he had been unresponsive to requests.

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