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Red Lobster announces next owner

By Sarah Kinbar and WFTV.com News Staff
In the third quarter of 2023, the seafood chain reported a loss of more than $11 million, according to Restaurant Business.

Red Lobster FILE PHOTO: Red Lobster has closed more than 50 of its restaurants nationwide. ( Photo by Justin Sullivan/Getty Images/Getty Images)

By Sarah Kinbar and WFTV.com News Staff

ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.

Red Lobster Management LLC on July 22 filed its “designation of successful bidder” paperwork with the U.S. Bankruptcy Court for the Middle District of Florida in Orlando.

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The seafood chain’s new owner will be RL Purchaser LLC, a stalking horse bidder made up of Red Lobster’s lenders, which proposed a $376 million bid.

If the restaurant company’s July 19 reorganization plan holds firm, the transaction will involve an equity transfer where the buyer receives equity in the reorganized company, instead of buying the company’s assets outright.

Read: See Red Lobster’s new owner

Click here to read the full story on the Orlando Business Journal’s website.

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Multiple Orlando Red Lobster locations listed as ‘temporarily closed’ Multiple Red Lobster locations in Central Florida were listed as “temporarily closed” on the company’s website Monday. (WFTV)


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