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On June 18, an Ontario court approved the sale procedure for Red Lobster Canada. [41] On August 25, 2024, Red Lobster announced the closure of 23 additional restaurants, all of which were set to be shuttered by August 31. [42] On August 26, Damola Adamolekun was appointed CEO of Red Lobster, replacing Tibus. [43]
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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]
As the headwinds gathered, Red Lobster's management changes were as dizzying as its ownership changes. From 2021 to now, the company had four CEOs, including one who lasted eight months in 2021-22.
General Mills acquired the restaurant two years later in 1970, before the company split into a restaurant-only firm called Darden Restaurants, which also owned Olive Garden, according to Red ...
A hearing has been set for next week for a judge to approve the sale. Fortress is one of Red Lobster’s largest lenders and has financed the restaurant chain’s operations, including a new $100 ...
She is the former President of Red Lobster and Executive Vice President of Olive Garden American restaurant chains owned by parent company, Golden Gate Capital. Setta was named president in 2013, while Red Lobster was operated by Darden Restaurants, Inc. [ 1 ] [ 2 ] She served as the Executive Vice President of Marketing for Red Lobster from ...
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 ...