Court Approves Red Lobster Bankruptcy Plan; Over 500 Restaurants to Survive
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Seafood restaurant chain Red Lobster announced that it has received court approval for its Chapter 11 bankruptcy plan.
As part of the plan, RL Investor Holdings will acquire the chain. RL Investor Holdings is an entity created by funds managed by affiliates of Fortress Investment Group LLC, alongside co-investors TCW Private Credit and Blue Torch.
The deal is expected to close by the end of this month, per a statement from Red Lobster.
The sale also means that Red Lobster will remain an independent company with 544...
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