Red Lobster has emerged from Chapter 11 bankruptcy following its acquisition by RL Investor Holdings, led by Fortress Investment Group, which includes a $375 million investment aimed at revitalizing the chain. New CEO Damola Adamolekun, formerly of P.F. Chang's, emphasized a commitment of over $60 million in funding to improve operations and strengthen the brand. Despite exiting bankruptcy, Red Lobster continues to deal with debts, including a $3.7 million claim from Thai Union due to demand forecast changes affecting shrimp supply. The company has experienced significant losses, reporting $76 million in 2023 and previously closing over 50 locations. Adamolekun expressed optimism for the future, stating Red Lobster is now a 'stronger, more resilient company' as it seeks to regain its footing in the competitive restaurant market. The chain operates 545 locations across the U.S. and Canada as it enters a new chapter in its history.