NATIONWIDE – Bankruptcy, retirement and a new take on lobster.
One of the country’s oldest gun-makers has filed for chapter 11 bankruptcy. Remington Outdoor points to slowing sales and debt of up to half a billion dollars. The plan was originally announced last month.
Home improvement chain Lowe’s needs a new boss. Chairman and CEO Robert Niblock is retiring after 13 years on the job. Profits at Lowe’s, which has nearly 2,400 stores, dropped last month by 16 percent. The announcement sent shares of Lowe’s up about five percent.
Red Lobster is trying a briny take on a classic. Instead of chicken and waffles the chain is serving lobster and waffles. The lobster is fried and the waffle is made from the same recipe as the restaurant’s cheddar bay biscuits, and then covered in maple syrup. Reactions online have been decidedly mixed.