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Red Lobster Has A New Owner In Fortress Credit Corp.
Say hello to Red Lobster’s new owner: RL Purchaser, a stalking horse bidder composed of Red Lobster lenders and controlled by Fortress Credit Corp.
The fate of seafood restaurant chain Red Lobster has been hanging in the balance since Thai Union announced late last year that it would be exiting its minority investment in the restaurant. Financially struggling due to losses related to COVID, and then the Ultimate Endless Shrimp promotion, Red Lobster ended up shuttering locations before filing for Chapter 11 bankruptcy protection this...
Red Lobster Bankruptcy: Latest Court Docs Reveal New $3.7 Million Claim From Thai Union
According to recent court documents filed by Thai Union in Red Lobster’s chapter 11 bankruptcy case, the seafood restaurant chain owes them approximately $3.7 million.
Red Lobster voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the US. Bankruptcy Court for the Middle District of Florida this past May. The news came shortly after the chain abruptly closed a staggering amount of restaurants and engaged in a public liquidation of select restaurants.
Since filing for bankruptcy, Red Lobster has...
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