Finance

Fortress Directors Behind Red Lobster Takeover Set to Depart

Red Lobster filed for bankruptcy in May 2024 and was acquired later that year by a group led by Fortress.Photographer: Ting Shen/Bloomberg

Two Fortress Investment Group managing directors, who served on the board of formerly bankrupt Red Lobster after a firm-led takeover of the chain, are set to leave both the board and Fortress, according to people familiar with the matter.

The departures of Morgan McClure, who was the board chairman, and Andrew Robbins come as Red Lobster struggles to return to steady profitability. The seafood chain filed for bankruptcy in May 2024 and was acquired later that year by a group led by Fortress — previously one of its lenders — as part of the company’s Chapter 11 process.