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US judge approves Red Lobster’s plan to emerge from bankruptcy with sale

The Orlando, Florida-based chain will survive three months of bankruptcy with roughly 545 restaurants in the US and Canada and more than 30,000 full- and part-time employees

By Undercurrent News | Sept. 5, 2024 18:50 BST
A Red Lobster restaurant in New York, US. Red Lobster is owned by Thai Union Group. Credit: pisaphotography/Shutterstock.com
A Red Lobster restaurant in New York, US. Credit: pisaphotography/Shutterstock.com
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A Red Lobster restaurant in New York, US. Red Lobster is owned by Thai Union Group. Credit: pisaphotography/Shutterstock.com

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A Red Lobster restaurant in New York, US. Red Lobster is owned by Thai Union Group. Credit: pisaphotography/Shutterstock.com

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US judge Grace Robson on Thursday (Sept. 5) approved a plan that allows Red Lobster to emerge from Chapter 11 bankruptcy by agreeing to be purchased by an ownership group led by Fortress Investment Group, Bloomberg News reports.   [...]

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