Two months after filing for bankruptcy, Red Lobster is close to emerging with a new owner. Red Lobster said this week that it will accept an existing sale offer from a lender experienced in restaurant management, after not receiving any other acquisition bids. A hearing has been set for next week for a judge to approve the sale. Red Lobster has closed around 100 restaurants in recent months and plans to close several dozen more locations. It has around 600 restaurants remaining. Red Lobster’s former leaders have criticized the management decisions made under its leading shareholder, including a failed promotional deal. The shareholder announced its intention to divest from Red Lobster in January.
