Red Lobster's New Owner Revealed
Cheddar Bay Biscuits Staying on the Menu
After months in court, Red Lobster has a new owner. According to court documents filed on Monday, the seafood chain's new owner is RL Purchaser LLC, a stalking horse bidder made up of Red Lobster's lenders. The stalking horse bidder is usually the first to bid, opening the bidding process.
Fortress Investment Group to Acquire Red Lobster
The new owner will likely be Fortress Investment Group, a global investment management firm. Fortress Investment Group is expected to close the deal with Red Lobster by the end of the year.
Red Lobster has been struggling financially in recent years, and the sale to Fortress Investment Group is expected to help the company stabilize its finances. The new owner is also expected to invest in Red Lobster's operations, including its menu and restaurants.
One of the most important questions for Red Lobster fans was whether the cheddar bay biscuits would stay on the menu. The answer is yes! The new owner has confirmed that the cheddar bay biscuits will remain a staple of the Red Lobster menu.
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