Red Lobster's Bankruptcy and Stalking Horse Bid: What You Need to Know
Explore the details of Red Lobster's bankruptcy filing, stalking horse bid, and landlords' objections in this comprehensive article.
Photo by Louis Hansel on Unsplash
Photo by Louis Hansel on Unsplash
Financial Restructuring with Fortress Credit Corp.
In January 2021, Red Lobster found itself in a financial predicament, leading to a financing agreement with Fortress Credit Corp. and other lenders to modify its Prepetition Term Loan Credit Agreement. The lenders were owed a substantial sum, over $264 million, by the time Red Lobster filed for bankruptcy in May 2021.
