Red Lobster Exits Bankruptcy As New Owner Commits To More Than $60M In Funding

9/18/2024

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Bisnow

• Subcategory: Capital Markets: Equity, Retail: Restaurant

• Tag: Bankruptcy | Earnings | Legal-Lawsuit | Opening | Operations

• Additional Filters-Subcategory: Capital Markets: Equity-Investment

• Additional Filters-Tags: Retail: Franchise

• Company: Fortress Investment Group (NYSE: FIG)

Red Lobster’s popular Cheddar Bay Biscuits are safe. Following its acquisition by Fortress Investment Group-backed RL Investor Holdings this week, the restaurant chain has exited bankruptcy and is flush with new funding. In an announcement Monday, Red Lobster's new CEO Damola Adamolekun said the acquisition begins a new chapter for the company, adding it is now strong and more resilient.