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The following year, Darden sold Red Lobster to Golden Gate Capital, a private equity firm, for $2.1 billion. To help fund the deal, Red Lobster spun off its real estate assets in a transaction ...
Red Lobster's owner, the Thailand-based seafood producer Thai Union Group, announced plans to divest from the chain in January due to its "prolonged negative financial contributions."
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. [ 30 ] [ 31 ] [ 32 ] On June 14, 2024 it was reported that Fortress Investment Group , a Wall Street investment firm co-founded by Milwaukee Bucks co ...
The first stage in fixing up Red Lobster locations is to address problems that should’ve been solved years ago, like broken HVAC units, broken tile, and faulty kitchen equipment and furniture ...
Joe Queenan (born November 3, 1950) is an American satirist and critic. He is the author of nine books, including Red Lobster, White Trash and the Blue Lagoon and If You’re Talking to Me, Your Career Must Be in Trouble.
Red Lobster attracted both working-class and affluent Black diners during the 1970s and 1980s at a time when many sit-down restaurants were unwelcoming of Black patrons, said Marcia Chatelain, a ...
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After shuttering more than 100 locations across the country and filing for Chapter 11 bankruptcy protection in May, Red Lobster has hired a new CEO to help revitalize the popular seafood ...