Golden Gate will have its work cut out for it. Red Lobster's same-store sales in the U.S. tumbled 8.8 percent during the first three months of 2014.
It's not clear if Golden Gate plans to close stores as part of the acquisition. The private equity firm did not respond to a request for comment.
Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.