Red Lobster to exit bankruptcy with former P.F. Chang CEO in charge
By Karah Rucker (Anchor), Brock Koller (Senior Producer), Zachary Hill (Video Editor)
Thursday, Sept. 5 was touted as “a great day for Red Lobster,” which is good news for the company as there haven’t been many great days for the beleaguered restaurant chain. The place known for its cheddar bay biscuits has seen its fair share of problems in recent years.
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This story is a Media Miss by the right as only 0% of the coverage is from right leaning media. Learn more about this dataBias Distribution
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Red Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on Associated Press NewsRed Lobster sale approved, will exit bankruptcy protection – National
Click to see story on Global NewsRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on abc NewsRed Lobster will soon exit from bankruptcy after judge approves sale to new owner
Click to see story on abc11 RaleighRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on SooToday.comRed Lobster to exit bankruptcy protection after judge OKs seafood chain’s sale
Click to see story on WISH-TVRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on News & RecordRed Lobster will soon exit from bankruptcy after judge approves sale to new owner
Click to see story on WCSHJudge Approves Sale of Red Lobster
Click to see story on NewserRed Lobster will soon exit from bankruptcy after judge approves sale to new owner
Click to see story on KIFIRed Lobster cleared to exit Chapter 11 bankruptcy
Click to see story on CNBCRed Lobster says it will soon exit bankruptcy protection
Click to see story on Las Vegas Review-JournalRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on Montana StandardRed Lobster gets green light to exit bankruptcy
Click to see story on FortuneRed Lobster will soon exit from bankruptcy after judge approves sale to new owner
Click to see story on 9NEWS DenverRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on WPRI 12Red Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on The ColumbianRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on Bulletin-ReviewRed Lobster will soon exit from bankruptcy after judge approves sale to new owner
Click to see story on Fort Smith/Fayetteville NewsRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on KEYTRed Lobster will soon exit from bankruptcy after judge approves sale to new owner
Click to see story on KYTXRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on castanet.netRight
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Red Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on Newmarket TodayRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on Collingwood TodayRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on Elora Fergus TodayRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale – The Morning Sun
Click to see story on Morning SunRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on CambridgeToday.caRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on ElliotLakeToday.comRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on StratfordToday.caRed Lobster cleared to exit Chapter 11 bankruptcy protection – RetailWit
Click to see story on RetailWitUS judge approves Red Lobster’s plan to emerge from bankruptcy with sale
Click to see story on Undercurrent NewsRed Lobster Receives Court Approval of Chapter 11 Plan; Nears Exit of Bankruptcy
Click to see story on RestaurantNews.comRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on The Business JournalRed Lobster cleared to exit Chapter 11 bankruptcy protection
Click to see story on Stockxpo – A professional network of traders, investors and analystsRed Lobster may exit bankruptcy protection soon
Click to see story on livenowfox.comRed Lobster cleared to exit Chapter 11 bankruptcy protection
Click to see story on Daily Expert NewsRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on Western InvestorRed Lobster’s sale is approved by bankruptcy court
Click to see story on nrn.comRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on burlingtontoday.comRed Lobster Receives Authorization to Exit Chapter 11 Bankruptcy
Click to see story on Telemundo Dallas (39)The chain dealt with an all-you-can-eat shrimp promotion that hurt profits, a carousel of CEOs, rising food costs, dwindling customer traffic, and the closure of over 100 locations. Red Lobster was tanking and filed for bankruptcy in May.
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But now things are looking up for the seafood chain. First there was its collaboration with Flavor Flav, and now a federal judge on Thursday approved Red Lobster’s Chapter 11 plans in its hope to bounce back.
Under those plans, Red Lobster would be under new ownership, RL Investor Holdings, an entity led by Fortress Investment Group along with co-investors. The plan calls for Red Lobster to continue to operate as an independent company.
The $375 million acquisition is expected to close before the end of the month when the newest CEO takes over. Damola Adamolekun is the former CEO of P.F. Chang’s.
It was Adamolekun, who in a statement Thursday, said those words: “This is a great day for Red Lobster.”
The soon-to-be Red Lobster CEO painted a bright outlook for the Orlando-based company, saying there is a commitment from backers of more than $60 million in new funding.
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“Red Lobster has a tremendous future, and I cannot wait to get started on our plan with the company’s more than 30,000 team members across the USA and Canada,” Adamolekun said.
Red Lobster currently has 544 locations in 44 states in the U.S. and four provinces in Canada.
THURSDAY WAS TOUTED AS “A GREAT DAY FOR RED LOBSTER.”
WHICH IS GOOD NEWS FOR THE COMPANY AS THERE HAVEN’T BEEN MANY GREAT DAYS FOR THE BELEAGUERED RESTAURANT CHAIN.
THE PLACE KNOWN FOR ITS CHEDDAR BAY BISCUITS HAS SEEN ITS FAIR SHARE OF PROBLEMS IN RECENT YEARS.
AN ALL-YOU-CAN-EAT SHRIMP PROMOTION THAT HURT PROFITS –A CAROUSEL OF CEOS – RISING FOOD COSTS – DWINDLING CUSTOMER TRAFFIC – AND CLOSING OVER 100 LOCATIONS — RED LOBSTER WAS “TANKING” AND FILED FOR BANKRUPTCY IN MAY.
BUT NOW THINGS ARE LOOKING UP FOR THE SEAFOOD CHAIN – FIRST THERE WAS ITS COLLABORATION WITH FLAVOR FLAV AND NOW A FEDERAL JUDGE ON THURSDAY APPROVED RED LOBSTER’S CHAPTER 11 PLANS IN ITS HOPE TO BOUNCE BACK.
UNDER THOSE PLANS – RED LOBSTER WOULD BE UNDER NEW OWNERSHIP – RL INVESTOR HOLDINGS — AN ENTITY LED BY FORTRESS INVESTMENT GROUP – ALONG WITH CO-INVESTORS.
THE PLAN CALLS FOR RED LOBSTER TO CONTINUE TO OPERATE AS AN INDEPENDENT COMPANY.
THE 375 MILLION DOLLAR ACQUISITION IS EXPECTED TO CLOSE BEFORE THE END OF THE MONTH – WHEN THE NEWEST CEO TAKES OVER – DAMOLA (DUH-MAUL-OH) ADAMOLEKUN (ADAM-UH-LAY-KIN) – THE FORMER CEO OF ANOTHER RESTAURANT CHAIN – P.F. CHANG’S.
IT WAS ADAMOLEKUN (ADAM-UH-LAY-KIN) WHO IN A STATEMENT THURSDAY SAID THOSE WORDS — “THIS IS A GREAT DAY FOR RED LOBSTER”
THE SOON-TO-BE RED LOBSTER CEO PAINTING A BRIGHT OUTLOOK FOR THE ORLANDO-BASED COMPANY – SAYING THERE IS A COMMITMENT FROM BACKERS OF MORE THAN 60 MILLION DOLLARS IN NEW FUNDING.
ADDING, “RED LOBSTER HAS A TREMENDOUS FUTURE, AND I CANNOT WAIT TO GET STARTED ON OUR PLAN WITH THE COMPANY’S MORE THAN 30,000 TEAM MEMBERS ACROSS THE USA AND CANADA.”
RED LOBSTER CURRENTLY HAS 544 LOCATIONS IN 44 STATES IN THE US AND FOUR PROVINCES IN CANADA.
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Media Landscape
This story is a Media Miss by the right as only 0% of the coverage is from right leaning media. Learn more about this dataBias Distribution
Left
Red Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on Associated Press NewsRed Lobster sale approved, will exit bankruptcy protection – National
Click to see story on Global NewsRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on abc NewsRed Lobster will soon exit from bankruptcy after judge approves sale to new owner
Click to see story on abc11 RaleighRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on SooToday.comRed Lobster to exit bankruptcy protection after judge OKs seafood chain’s sale
Click to see story on WISH-TVRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on News & RecordRed Lobster will soon exit from bankruptcy after judge approves sale to new owner
Click to see story on WCSHJudge Approves Sale of Red Lobster
Click to see story on NewserRed Lobster will soon exit from bankruptcy after judge approves sale to new owner
Click to see story on KIFIRed Lobster cleared to exit Chapter 11 bankruptcy
Click to see story on CNBCRed Lobster says it will soon exit bankruptcy protection
Click to see story on Las Vegas Review-JournalRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on Montana StandardRed Lobster gets green light to exit bankruptcy
Click to see story on FortuneRed Lobster will soon exit from bankruptcy after judge approves sale to new owner
Click to see story on 9NEWS DenverRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on WPRI 12Red Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on The ColumbianRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on Bulletin-ReviewRed Lobster will soon exit from bankruptcy after judge approves sale to new owner
Click to see story on Fort Smith/Fayetteville NewsRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on KEYTRed Lobster will soon exit from bankruptcy after judge approves sale to new owner
Click to see story on KYTXRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on castanet.netRight
Right
Untracked Bias
Red Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on Newmarket TodayRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on Collingwood TodayRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on Elora Fergus TodayRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale – The Morning Sun
Click to see story on Morning SunRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on CambridgeToday.caRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on ElliotLakeToday.comRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on StratfordToday.caRed Lobster cleared to exit Chapter 11 bankruptcy protection – RetailWit
Click to see story on RetailWitUS judge approves Red Lobster’s plan to emerge from bankruptcy with sale
Click to see story on Undercurrent NewsRed Lobster Receives Court Approval of Chapter 11 Plan; Nears Exit of Bankruptcy
Click to see story on RestaurantNews.comRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on The Business JournalRed Lobster cleared to exit Chapter 11 bankruptcy protection
Click to see story on Stockxpo – A professional network of traders, investors and analystsRed Lobster may exit bankruptcy protection soon
Click to see story on livenowfox.comRed Lobster cleared to exit Chapter 11 bankruptcy protection
Click to see story on Daily Expert NewsRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on Western InvestorRed Lobster’s sale is approved by bankruptcy court
Click to see story on nrn.comRed Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
Click to see story on burlingtontoday.comRed Lobster Receives Authorization to Exit Chapter 11 Bankruptcy
Click to see story on Telemundo Dallas (39)VOTE WITH THE UNBIASED, STRAIGHT FACTS.™
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