Red Lobster's Chapter 11 plan approved; to exit with more than 540 locationsRed Lobster is moving forward with its restructuring plan months after filing for bankruptcy. Former CEO of P.F. Chang’s to head up Red Lobster Red Lobster has a new chief executive officer — pending court approval. Red Lobster closes 90-plus sites; equipment to be auctioned off Red Lobster is slimming down a bit.
