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Red Lobster will soon exit from bankruptcy after judge approves sale to new owner

  • A bankruptcy court approved Red Lobster's plan to exit Chapter 11 after years of losses and customer decline.
  • The sale to RL Investor Holdings will finalize by the end of the month, with Damola Adamolekun becoming the new CEO.
  • Adamolekun stated, "This is a great day for Red Lobster," praising the $60 million investment plan to revitalize the brand.
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  • 57% of the sources are Center
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