Category: Business
Red Lobster is facing a potential acquisition by RL Purchaser LLC for $376 million following its Chapter 11 bankruptcy filing. The company aims to reorganize its finances and has closed nearly 100 locations, including 17 in Florida, due to significant debt and declining customer numbers. Fortress Investment Group, which controls RL Purchaser, is set to become the new owner after the cancellation of a traditional auction process.
Keywords: Red Lobster, bankruptcy, acquisition
Source: Sarasota Herald-Tribune
Update At: 7/24/2024