Red Lobster In Hot Water, To Consider Chapter 11 Bankruptcy

Red Lobster may be considering Chapter Eleven bankruptcy. A Bloomberg report says the seafood chain is considering filing to restructure its debt, renegotiate leases and shed some long-term contracts. Inside sources say a final decision on restructuring hasn't been made yet. Red Lobster has hundreds of locations across the U.S. and Canada. The company has not commented on the report.