2 weeks Ago
NEW YORK — Red Lobster, known for its affordable seafood and cheddary biscuits, has exited bankruptcy protection. A judge approved the casual dining chain's reorganization plan earlier this month, which included a group led by asset manager Fortress Investment Group acquiring the business. The green light arrives under just four months after Red Lobster filed for bankruptcy protection as it pursued a sale, following years of mounting losses and dwindling foot traffic.
The Florida-based chain, which lost $76 million in 2023, shuttered dozens of its restaurants over recent months. The new CEO is Damola Adamolekun, former chief executive of P.F.
Chang's. He was previously appointed to head RL Investor Holdings, the newly formed entity that acquired Red Lobster. He previously said that the long-term investment plan included a commitment of more than $60 million in funding.
"Red Lobster is now a stronger, more resilient company, and today is the start of a new chapter in our history," Adamolekun said Monday. The independent, privately held company has 545 locations in 44 states, including South Carolina, and four Canadian provinces. SEATTLE — Amazon is reverting to its pre-pandemic policy and will require corporate employees to be in the office five days a week starting early next year, CEO Andy Jassy said Sept.
16. Jassy said in a message shared with employees that management had been thinking about how to better "invent, collaborate and be connected enough to each other" to deliver the best results. The company decided that bringing employees back into its offices five days a week instead of the three now required was a way to address the issue, he said.
"When we look back over the last five years, we continue to believe that the advantages of being together in the office are significant," Jassy wrote in the memo, which Amazon also shared on its website. The policy takes effect Jan. 2.
OTTAWA, Ontario — Air Canada and the union representing its pilots have come to terms on a labor agreement that is likely to prevent a shutdown of Canada's largest carrier. Today's Top Headlines Story continues below Lindsey Graham emerges as Trump's top South Carolina surrogate — but on his own terms School districts change plans after tropical storm warning announced, inclement weather expected Longstanding Mexican-inspired restaurant closes Mount Pleasant location Islander 71 employees rescue elderly couple from submerging car at Isle of Palms Marina Wind, rain and school closures: What the Myrtle Beach area can expect from today's storm Charleston County leaves off anticipated pedestrian bridge for US 17 project. Here's why.
Editorial: Did SC mean to ban Bible from schools? Of course not, but it apparently did. Charleston-area homebuilder wants right to cancel contracts any time. SC Judge says its unethical.
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on video': SC man recovering after being bitten by world's most venomous snake The airline said talks with the Air Line Pilots Association produced a tentative, four-year collective agreement. The terms will remain confidential until ratification by union members and approval by the airline's board of directors over the next month. Union leaders say they approved the agreement on behalf of more than 5,400 Air Canada and Air Canada Rouge pilots in anticipation of a $1.
9 billion increase for the employees over the period of the agreement. Federal Labor Minister Steven MacKinnon has confirmed the sides reached a deal. Air Canada operates a flight between Charleston and Toronto.
DALLAS — United Airlines has struck a deal with Elon Musk's SpaceX to offer satellite-based Starlink WiFi service on flights within the next several years. The airline said the service will be free to passengers and allow them to connect multiple devices. United said it will begin testing the service early next year and begin offering it on some flights by later in 2025.
The carruer plans an aggressive rollout across its fleet of more than 1,000 United and United Express planes. Financial details of the deal were not disclosed. Delta Air Lines began offering free in-flight Wi-Fi last year using Viasat, a rival to Starlink.
BEIJING — China's economy softened in August, extending a slowdown in industrial activity and real estate prices as Beijing faces pressure to ramp up spending to stimulate demand. Data published by the National Bureau of Statistics over the weekend showed weakening activity across industrial production, retail sales and real estate in August compared to July. Liu Aihua, the bureau's chief economist, said that demand remained insufficient at home, and the sustained economic recovery still confronts multiple difficulties and challenges.
China has been grappling with a lagging economy post-COVID, with weak consumer demand, persistent deflationary pressures and a contraction in factory activity..
