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Red Lobster, known for its affordable seafood and cheddary biscuits, has exited Chapter 11 bankruptcy protection ... after ...

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After months of dozens of restaurant closings and headlines about "endless shrimp" woes, Red Lobster is poised to soon exit from Chapter 11 bankruptcy protection.

Red Lobster filed for bankruptcy in May, and after getting court approval for sale to a new owner, will exit from Chapter 11.