September 5, 2024 — The sale of Red Lobster to Fortress Credit was officially approved at a hearing in U.S. Bankruptcy Court on 5 September, even as the U.S. trustee overseeing the bankruptcy case is opposing confirmation of the restaurant chain’s bankruptcy plan.
In late July, Red Lobster canceled an auction to sell its assets and announced that Fortress Credit – Red Lobster’s primary creditor – would be purchasing the company’s assets instead.