(Reuters) – Damola Adamolekun, earlier chief government 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 said on Monday.
Lenders, consisting of Fortress Investment Group, are on the lookout for 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 perform because the one answerable for eating institution chain P.F. Chang’s in 2023, will definitely come to be the chief government officer of RL Investor, Fortress said.
Red Lobster utilized for private chapter in Florida in May with round $300 million within the pink and a method to close some eating institutions and market itself to its mortgage suppliers or a higher potential purchaser.
Red Lobster would definitely stay to run as an unbiased enterprise, with 544 locations all through 44 states within the united state and 4 Canadian districts, Fortress said.
(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Sriraj Kalluvila)
