September 18, 2024 — Red Lobster announced its exit from Chapter 11 bankruptcy on 16 September after gaining the newly created RL Investor Holdings as its new owner and officially appointing Damola Adamolekun as CEO.
RL Investor Holdings is an entity created by funds managed by affiliates of Fortress Investment Group, alongside co-investors TCW Private Credit and Blue Torch. With the company taking over as the chain’s new owner, Red Lobster has exited its bankruptcy status.