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ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
RL Purchaser LLC, a newly formed entity organized and controlled by Fortress Investment Group LLC, is the next owner of Red Lobster — and it has some bills to pay.
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Fortress, co-headquartered in New York and Dallas, will be responsible for paying any lenders and unsecured creditors who win lawsuits against Red Lobster. In addition to lawsuit awards, unsecured creditors will receive a distribution based on the available funds after the lawyers are paid. Further, landlords want money for past rent that’s gone unpaid.
Luckily, when it comes to restaurants, this is not Fortress’ first rodeo.
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Click here to read the full story on the Orlando Business Journal’s website.
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