May 19 (Reuters) -
* RED LOBSTER FILES VOLUNTARY CHAPTER 11 PETITIONS TO STRENGTHEN FINANCIAL POSITION AND MAXIMIZE VALUE FOR STAKEHOLDERS
* RED LOBSTER - RESTRUCTURING TO OPTIMIZE REAL ESTATE FOOTPRINT AND FACILITATE GOING CONCERN SALE
* RED LOBSTER - RED LOBSTER'S RESTAURANTS WILL REMAIN OPEN AND OPERATING AS USUAL DURING CHAPTER 11 PROCESS
* RED LOBSTER- COMPANY WORKING WITH VENDORS TO ENSURE THAT OPERATIONS ARE UNAFFECTED
* RED LOBSTER- HAS RECEIVED A $100 MILLION DEBTOR-IN-POSSESSION ("DIP") FINANCING COMMITMENT FROM ITS EXISTING LENDERS
* RED LOBSTER - ENTERED INTO STALKING HORSE PURCHASE AGREEMENT PURSUANT WHICH CO WILL SELL BUSINESS TO AN ENTITY FORMED, CONTROLLED BY EXISTING TERM LENDERS Source text for Eikon:
