The restaurant chain Red Lobster announced Monday the company exited Chapter 11 bankruptcy and has a new chief executive officer, Damola Adamolekun. Adamolekun, 35, said in a statement the restaurant is now "stronger" and "more resilient" as the company gears up for "the start of a new chapter,

After months of dozens of restaurant closings and headlines about "endless shrimp" woes, Red Lobster is poised to soon exit from Chapter 11 bankruptcy protection.

Four months after its Chapter 11 filing, restaurant chain Red Lobster says it has exited bankruptcy led by new management.The company announced on Monday, Sept. 16 that it's been acquired by lender group RL Investor Holdings with $60

Red Lobster emerges from Chapter 11 with Damola Adamolekun as CEO and $60 million in funding to enhance dining experiences.

Seafood chain Red Lobster has exited Chapter 11 restructuring after approval for a $375 million acquisition by RL Investor Holdings and with a new CEO at the helm.

A local Red Lobster manager is celebrating the good news. Sept. 19, Red Lobster announced it was officially out of Chapter 11 bankruptcy. The seafood restaurant giant, which has two Columbus locations,

Red Lobster exits bankruptcy, ditches unlimited shrimp for quality Red Lobster, the iconic seafood chain known for its signature Cheddar Bay Biscuits and family-friendly dining experience, is clawing its way back from the brink of financial ruin.

Red Lobster filed for bankruptcy protection in May and it led to the closing of dozens of restaurants in the U.S.

The Red Lobster restaurant chain seemed on the verge of permanently shutting down, but after filing bankruptcy, the brand is returning with a new CEO.