Fans rejoice as Red Lobster emerges from bankruptcy with new owners


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Red Lobster has officially emerged from bankruptcy.

The casual dining chain, known for its cheddar cheese biscuits, filed for bankruptcy in May. Red Lobster was forced to close many U.S. locations as its endless seafood offerings, such as shrimp, became permanent menu items. At the time, the chain said it was filing for bankruptcy to streamline its operations, close restaurants and pursue a sale.

Now, a bankruptcy judge has approved the chain's reorganization plan, including the hiring of Damola Adamolekun, former CEO of PF Chang's, as its new CEO. “Red Lobster is now a stronger, more resilient company, and today marks the beginning of a new chapter in our history,” Adamolekun said in a statement Monday, Sept. 16, according to The Associated Press.

Following the announcement, many people took to X (formerly Twitter) to credit Flavor Flav with single-handedly saving the seafood chain. In June, the rapper ordered the entire menu at his local Red Lobster in an attempt to “help save” the chain.

“@FlavorFlav saved Red Lobster,” one person said. wrote on the platform.

“Flavor Flav really saved Red Lobster and the Olympics!” another person wrotereferencing the rapper's previous comment that he would give Jordan Chiles a bronze necklace after his Olympic medal was stripped.

Shortly after the chain filed for bankruptcy, the hip-hop artist posted the news on X, writing, “YOOOOO I use my platform to help others and now I want to use it to help save one of the biggest food dynasties in America. CALL ME @redlobster!!! I got you.”

A few days later, the rapper posted an Instagram image of himself at a Red Lobster surrounded by various seafood dishes, as he later clarified that he had ordered the entire menu. “A guy said he would do everything he could to help Red Lobster and save Cheddar Bay Biscuits… he ordered the entire menu,” he wrote over the photo, which showed him standing in front of the table holding a biscuit in his hand.

In the Instagram caption, Flavor Flav wrote: “Took my family to @redlobster and we ordered the whole menu!”

The restaurant chain was founded in Florida in 1968 by Bill Darden and Charley Woodsby, who wanted to make seafood restaurants more accessible and affordable for families. General Mills acquired the restaurant two years later in 1970, before the company was split into a restaurant-only company called Darden Restaurants, which also owned Olive Garden, according to Red Lobster's timeline on its website.

Due to pressure from investors, the seafood chain was sold again in 2014 to Golden Gate Capital, a San Francisco private equity firm, for $2.1 billion. Since Golden Gate technically did not have enough money for the deal, it sold the land on which the restaurants were located to American Realty Capital Properties and Golden Gate leased it back.

The chain ended up losing $19 million after launching its Ultimate Endless Shrimp promotion, which charged $20 for an all-you-can-eat shrimp deal and later became a regular menu item.

Red Lobster continues to operate 545 locations worldwide.



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