Red Lobster, the seafood chain known for its Cheddar Bay biscuits and endless shrimp deals, has filed for bankruptcy protection after months of financial woes and store closures. On May 19, Red Lobster Management LLC, which owns the restaurant chain, announced it has voluntarily filed for relief under Chapter 11 bankruptcy in the United States Bankruptcy Court for the Middle District of Florida. As part of the filings, Red Lobster says it plans to remain open and sell its businesses to existing... Read this story at TODAY.com , www.kxl.com , Honolulu Star-Advertiser , CNBC
