Red Lobster has emerged from bankruptcy after being acquired by RL Investor Holdings LLC, a group formed by Fortress Investment Group, TCW Private Credit, and Blue Torch. The new CEO, Damola Adamolekun, outlined a comprehensive investment plan to improve the restaurant chain.
Red Lobster officially came out of the bankruptcy process on Monday, with the new CEO Damola Adamolekun calling it the "start of a new chapter" for the seafood restaurant chain . The seafood chain’s exit from bankruptcy came after RL Investor Holdings LLC acquired it as part of a court-approved Chapter 11 plan.
" WHY ARE SO MANY RESTAURANT CHAINS FILING FOR BANKRUPTCY THIS YEAR? In a press release, Adamolekun said the company has a "comprehensive and long-term investment plan" for the seafood restaurant chain. Part of that plan "includes a commitment of more than $60 million in new funding which will help us to deliver improvements across every aspect of our company," according to the CEO. RED LOBSTER BUYER TAPS FORMER PF CHANG'S CHIEF AS CEO On Sept. 5, the U.S.
Red Lobster Bankruptcy Acquisition Restaurant Chain Damola Adamolekun
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