REPORT: Red Lobster to get new owner after bankruptcy woes

Category: Business

Red Lobster is set to be acquired by RL Purchaser, a stalking horse bidder, for $376 million after filing for Chapter 11 bankruptcy. The acquisition aims to help the chain reorganize following significant operational issues and a decline in customers. Fortress Credit Corporation controls RL Purchaser, which has previously acquired other bankrupt companies.

Keywords: Red Lobster, bankruptcy, acquisition

Source: WKMG News 6 & ClickOrlando

Update At: 7/24/2024

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