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Red Lobster Has A New Owner In Fortress Credit Corp.
Say hello to Red Lobster’s new owner: RL Purchaser, a stalking horse bidder composed of Red Lobster lenders and controlled by Fortress Credit Corp.
The fate of seafood restaurant chain Red Lobster has been hanging in the balance since Thai Union announced late last year that it would be exiting its minority investment in the restaurant. Financially struggling due to losses related to COVID, and then the Ultimate Endless Shrimp promotion, Red Lobster ended up shuttering locations before filing for Chapter 11 bankruptcy protection this...