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Collected Strategies handles Red Lobster as the world’s largest seafood chain files for Chapter 11 protection.
It says the reorganization will drive operational improvements, simplify its business via the shutdown of low-performing restaurants, and pave the way for the sale of the business as a going concern.
Red Lobster has entered into a stalking horse purchase agreement that calls for it to sell the business to a group formed and controlled by its existing term lenders.
CEO Jonathan Tibus said the support from lenders and vendors will ensure that the sale of the company will occur quickly and efficiently.
He expects Red Lobster to emerge from the Chapter 11 proceedings as a stronger company focused on growth.
Red Lobster has about 600 restaurants, and has recently closed units in Orlando, San Antonio, Denver and San Diego.
Collected Strategies partners Dan Moore and Jude Gorman work the Red Lobster Chapter 11 filing.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
Prosek Partners brings on Danielle O’Brien as a managing director in its investor relations practice, based in the firm’s New York office.
