July 11, 2024 — Nearly two months after filing for Chapter 11 bankruptcy, restaurant chain Red Lobster announced at a court hearing on 10 July it is considering pursuing an alternate path: reorganization
The Orlando, Florida, U.S.A.-based chain, which, for now, operates 570 restaurants, is still aiming to sell its company either to Fortress Credit – a private investment firm that focuses on distressed companies, has USD 48 million (EUR 44.3 million) under management, and is Red Lobster’s biggest creditor – or to other potential buyers.