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Once the deal is finalized, the seafood chain will operate under a new CEO — Damola Adamolekun, former chief executive of P.F ...

“This is a great day for Red Lobster,” said Damola Adamolekun, who will succeed Jonathan Tibus as CEO of Red Lobster when the sale is complete. “With our new backers, we have a comprehensive and ...

Under the plan the chain would be sold to funds managed by affiliates of Fortress Investment Group, as well as co-investors ...

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Red Lobster is expected to operate about 544 locations across the U.S. and Canada upon emerging from bankruptcy.

The sale of Red Lobster to Fortress Credit was officially approved at a hearing in U.S. Bankruptcy Court on 5 September, even ...

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NEW YORK -- Red Lobster says it will soon emerge from bankruptcy protection after court approves the seafood chain's sale.