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Red Lobster Hospitality, LLC is an American casual dining restaurant chain headquartered in Orlando, Florida.The company has operations across most of the United States (including Puerto Rico and Guam) and Canada, as well as in China, Ecuador, Japan, Malaysia, Mexico, Philippines, Turkey and the United Arab Emirates; as of June 23, 2020, the company had 719 locations worldwide.
William Bristor Darden (November 17, 1918 – March 29, 1994), known as Bill, was an American businessman and the founder of the Red Lobster restaurant franchise. He is also the namesake of the multi-brand restaurant operator Darden Restaurants, which considers Darden to be its founder.
On May 12, 2014, Darden announced that as part of the spinoff of Red Lobster, it was converting the co-located Red Lobster and Olive Garden locations into standalone Olive Garden locations. [27] On May 16, 2014, Darden announced that it would be selling the Red Lobster seafood restaurant chain to Golden Gate Capital for US$2.1 billion. [28]
When a private-equity firm bought Red Lobster in 2014, it sold the land under the restaurants for $1.5 billion. Now the restaurants can't pay the rent. ... All had been owned by private equity.
“Red Lobster is now a stronger, more resilient company, and today is the start of a new chapter in our history,” Adamolekun said in a statement on Monday, September 16, according to The ...
As part of its reorganization, Red Lobster has agreed to sell its business to a new entity wholly owned and controlled by its lenders, a so-called stalking horse arrangement. The company said it ...
Red Lobster. In 2024 the Orlando, Florida-based seafood chain slipped towards bankruptcy closing 93 locations and filing for Chapter 11 bankruptcy protection on May 20, 2024, with over $1 billion in debt.
Two months after filing for bankruptcy, Red Lobster is close to emerging with a new owner.. Red Lobster said this week in a court filing that it will accept an existing sale offer from Fortress ...