Red Lobster off the hook? Federal judge approves restructuring plan

A Red Lobster restaurant in Lincolnwood, Ill., on May 20.

The restaurant chain announced Thursday that it received approval for its Chapter 11 plan, offering a glimmer of good news for the business, which has faced a series of struggles.

(Image credit: Teresa Crawford)

The restaurant chain announced Thursday that it received approval for its Chapter 11 plan, offering a glimmer of good news for the business, which has faced a series of struggles.