Can Red Lobster Make A Comeback? A New Owner Is Buying The Failing Restaurant Chain

  • 7/25/2024

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Yahoo! Finance
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We have good news for Cheddar Bay Biscuit fans. It looks like Red Lobster could be making a comeback, maybe. Just two months after filing for bankruptcy, an investment company has purchased the restaurant chain, according to court documents filed in Florida on Monday. RL Purchaser LLC, backed by Fortress Investment Group, has swooped in with a $376 million bid to acquire the struggling chain's assets. A court hearing to approve the sale will take place on July 29.

Fortress Investment Group (NYSE: FIG)
Eli Edwards | Managing Director, Acquisitions
Red Lobster
Elizabeth Crago | Senior Director of Real Estate

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