(Reuters) – Damola Adamolekun, earlier chief govt officer of P.F. Chang’s, will definitely take the helm at Red Lobster after a court docket authorization of the eating institution chain’s private chapter technique, monetary funding monitoring firm Fortress acknowledged on Monday.
Lenders, consisting of Fortress Investment Group, are in search of authorization for RL Investor Holdings, a just lately created entity, to acquire Red Lobster out of non-public chapter.
Adamolekun, that tipped down from his operate because the one in command of eating institution chain P.F. Chang’s in 2023, will definitely come to be the chief govt officer of RL Investor, Fortress acknowledged.
Red Lobster utilized for private chapter in Florida in May with round $300 million within the purple and a technique to close some eating institutions and market itself to its mortgage suppliers or a better potential purchaser.
Red Lobster will surely stay to run as an impartial enterprise, with 544 locations all through 44 states within the united state and 4 Canadian districts, Fortress acknowledged.
(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Sriraj Kalluvila)
