Red Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale [Video]

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.A U.S. bankruptcy judge on Thursday approved the casual seafood chain’s reorganization plan and sale to a lender group led by asset manager Fortress. The green light arrives under just four months after Red Lobster filed for bankruptcy protection as it pursued a sale, following years of mounting losses and dwindling customers while it struggled to keep up with competitors.At the time of filing in May, Red Lobster’s leadership shared plans to “simplify the business” through a reduction of locations. The Orlando, Florida, chain shuttered dozens of its North American restaurants in recent months — both leading up to and during the bankruptcy process. That includes more than 50 locations whose equipment was put up for auction just days before the Chapter 11 petition, followed by …