Bankruptcies, Business Failures, Layoffs, etc
- Thread starter Guard Dad
- Start date
Far West
Pursuit Driver
Red Lobster Considers Bankruptcy to Deal With Leases and Labor Costs
Seafood restaurant chain Red Lobster is mulling a Chapter 11 bankruptcy filing as it looks to restructure its debt, according to people with knowledge of the matter.
www.bloomberg.com
I've spoken with several owners of seafood restaurants who are struggling. Besides the stuff everyone is dealing with, the labor challenges and general inflation; they tell me the cost of quality seafood (raw product) has gone up to the point where they can't sell it at a price many customers are willing to pay and still make a profit.Red Lobster Considers Bankruptcy to Deal With Leases and Labor Costs
Seafood restaurant chain Red Lobster is mulling a Chapter 11 bankruptcy filing as it looks to restructure its debt, according to people with knowledge of the matter.
Given all the bad inflation numbers that have come out. my guess is that the Feds will not cut interest rates for awhile still. And I don't think the stock market is going to be happy. I think I'm gonna curtail my buying for awhile and try to ride the storm out.
Here’s what would happen to the US economy if there are no rate cuts this year
Here’s what would happen to the US economy if there are no rate cuts this year
Another article on that topic
No landing and no Fed rate cuts: the markets' new bet on 2024
No landing and no Fed rate cuts: the markets' new bet on 2024
Boss 302
Pursuit Driver
It's a standard practice for corporations to borrow money from financial institutions to meet payroll and buy inventory. They pay the loans off rather quickly. They do this to keep their total assets exceeding total liabilities. This keeps them profitable and helps them maintain their value in the stock market. With the higher interest rates, these debts reduce their total assets and increase their total liabilities. This results in employee layoffs and lower value on the stock market.
TOP THE SHOP
Grocery chain with 75 outlets confirms store doors are closing for good after lease end – with Aldi to replace retailer
Grocery chain with 75 outlets confirms store doors are closing for good after lease end – with Aldi to replace retailer
Grocery chain confirms store doors are closing - & Aldi will replace retailer
A POPULAR supermarket is set to shutter next month but customers already have their sights on its replacement. The shuttering Shop ‘n Save store in Lawrenceville, Pittsburgh, will close on Ma…
www.the-sun.com
Grocery chain confirms store doors are closing - & Aldi will replace retailer
A POPULAR supermarket is set to shutter next month but customers already have their sights on its replacement. The shuttering Shop ‘n Save store in Lawrenceville, Pittsburgh, will close on Ma…
www.the-sun.com
Boss 302
Pursuit Driver
My interpretation of the article is that the only Shop n' Save that is closing is the one in Lawrenceville, PA. The other 74 Shop n' Saves will remain open. I've gone to the Aldi here a few times with my wife. Their fresh vegetables seem to keep only a few days after you purchase them. Brand-name items are pretty much the same price there as they are anywhere else. What's much less expensive are the off-brands. They are brands I have never heard of before.
2024 will be 'toughest' labor market 'in our lifetime': Report
2024 will be 'toughest' labor market 'in our lifetime': Report
RedBalloon CEO Andrew Crapuchettes breaks down findings in a new report '2024: The Toughest Labor Market' in a Fox News Digital exclusive interview.
www.foxbusiness.com
Florida-based Tijuana Flats files for bankruptcy, closes 11 restaurants
Florida-based Tijuana Flats files for bankruptcy, closes 11 restaurants
Florida-based Tijuana Flats announced it has filed for bankruptcy and a new ownership group, Flatheads, has acquired the brand.
www.wfla.com
Apparel retailer Express files for US bankruptcy protection, to close over 100 stores
Apparel retailer Express files for US bankruptcy protection, to close over 100 stores
The retailer whose portfolio includes brands such as Express, Bonobos and UpWest Express, listed assets and liabilities in the range of $1 billion to $10 billion, according to a filing with the bankruptcy court in Delaware. As part of the bankruptcy process, the company will close approximately...
The Sound Guy
Pursuit Driver
2024 will be 'toughest' labor market 'in our lifetime': Report
2024 will be 'toughest' labor market 'in our lifetime': Report
RedBalloon CEO Andrew Crapuchettes breaks down findings in a new report '2024: The Toughest Labor Market' in a Fox News Digital exclusive interview.
"To summarize the situation employers face: there are less people overall, fewer working-aged people willing to work, more retirements, a higher number of jobseekers with mental health challenges, and an explosion in labor-related lawsuits against employers," the report says.
Aye Yup. I agree.
Suburban Chicago mall permanently closed over the weekend
Suburban Chicago mall permanently closed over the weekend
A once-popular suburban Chicago mall became the latest to permanently close its doors over the weekend.
www.nbcchicago.com
Key shipping company could file bankruptcy after shutting down
Apparel retailer Express files for US bankruptcy protection, to close over 100 stores
Apparel retailer Express files for US bankruptcy protection, to close over 100 stores
The retailer whose portfolio includes brands such as Express, Bonobos and UpWest Express, listed assets and liabilities in the range of $1 billion to $10 billion, according to a filing with the bankruptcy court in Delaware. As part of the bankruptcy process, the company will close approximately...finance.yahoo.com
Express plans to lay off hundreds in connection to bankruptcy
Nearly 1,300 stores are closing across the US in 2024. Here's the list.
Nearly 1,300 stores are closing across the US in 2024. Here's the list.
Family Dollar plans to close at least 600 locations in 2024, and eight other retail chains are shutting down stores for a variety of reasons.
www.businessinsider.com
I did some work for them years ago. Cheapest people ever, they were impossible to deal with. I walked away.
They still only have to walk a mile…just down the other road in town.
2 suburban Chicago malls close their doors permanently within weeks of each other
2 suburban Chicago malls close their doors permanently within weeks of each other
In less than a month, the once bustling suburban Chicago malls have both closed their doors for good.
www.nbcchicago.com