Red Lobster is out of the bankruptcy process after it was acquired under a court-approved Chapter 11 plan. RL Investor Holdings LLC is acquiring the seafood chain and will run its 545 restaurants as an independent company, FOX Business reported.
FOX Business noted that the U.S. Bankruptcy Court for the Middle District of Florida on Sept. 5 approved RL Investor Holding’s Chapter 11 plan, clearing a path for Red Lobster to exit the bankruptcy process it began in May.RELATED: Red Lobster files for bankruptcy after dozens of restaurant closuresRed Lobster filed for Chapter 11 bankruptcy protection in May resulting in the seafood restaurant chain closing dozens of U.S.
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