(CNN) – One of the world’s most famous seafood restaurants was able to ‘claw’ out of its financial problems.
Red Lobster is out of its chapter 11 bankruptcy according to a statement from CEO Damola Adamolekun.
He said the Florida based chain is now “stronger, more resilient, and ready for a bright new chapter.”
Adamolekun also added the restructuring process includes more than $60 million in funding.
Red Lobster, which made its debut in 1968, has 545 locations in the U.S. and Canada.
It employs roughly 30,000 workers.
© 2024 KOBI-TV NBC5. All rights reserved unless otherwise stated.