Red Lobster bankruptcy plan gets judge’s approval, preserving 30,000 jobs

Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.

A Sept. 5 hearing at the U.S. Bankruptcy Court for the Middle District of Florida in Orlando saw Jeff Dutson of Atlanta law firm King and Spalding LLP review objections to Red Lobster ’s Chapter 11 reorganization plan, explaining to U.S. Bankruptcy Judge Grace Robson how the objections were resolved prior to the hearing.

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Before confirming the plan, Robson asked Dutson for clarifications on a number of matters, including a status conference, a cure hearing, a typo and the transfer of liquor licenses to Red Lobster’s new owner , RL Investor Holdings LLC, an entity controlled by Fortress Investment Group LLC of New York and Dallas.

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Once Dutson agreed to add clarifying language to the plan documents, the judge confirmed the plan — clearing the way for new ownership to operate the company as it emerges from the bankruptcy process.

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