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The Latest Breaking News from Fortress

Loungers strikes deal to be bought by US investment firm for £338m

Fortress Investment Group said it has made an offer for the UK hospitality group through a newly-formed investment vehicle.

Evening Standard

Cosy Club owner Loungers strikes deal to be bought by US investment firm

The company currently operates 262 sites in England and Wales

The Independent UK

Loungers snapped up by US private equity firm in £338 million takeover

Loungers directors said their shares were undervalued and illiquid and they have been looking for a buyer for some months

Evening Standard

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Red Lobster's bankruptcy & how it emerged

Red Lobster is working hard to get back on its feet and win back its shrimp-happy customers.

The Street

Curzon Cinemas has been sold for a ‘bargain’ £3.9m – is this good news for UK filmgoers?

The British arthouse cinema chain has changed hands. Its new American owners would be wise to ignore industry gloom and invest in discerning movie audiences

The Guardian - UK

Curzon cinema chain snapped up by US owners of Majestic Wine

Curzon was founded in 1934 when the Curzon Mayfair opened and was one of the first companies to introduce international film and foreign language films to UK audiences

Evening Standard

UK arthouse cinema chain snapped up by private equity giant behind Poundstretcher

350 jobs have been secured in the deal

The Independent UK

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US private equity firm buys arthouse cinema chain Curzon

The deal will secure the future of Curzon’s 16 sites, its film distribution company and online streaming service, and more than 350 jobs.

Evening Standard

Curzon cinema chain acquired by Poundstretcher owner Fortress

US private equity group buys company’s 16 UK cinemas, distribution arm and online streaming service

The Guardian - UK

Red Lobster says it will soon exit bankruptcy protection after judge approves seafood chain's sale

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

The Independent UK

Restaurant chain closing more locations in Chapter 11 bankruptcy

The struggling restaurant chain faces a new order from its bankruptcy judge.

The Street

Three corkers from Majestic’s own-label range

Hats off to Majestic, they are about the last bricks-and-mortar off-licence chain standing

The Guardian - UK

Sega Sammy Sells Seagaia Resort Complex To Fortress Investment Group

Sega Sammy sells Seagaia resort to Fortress Investment Group, refocusing on video game industry strengths. Strategic move in the entertainment sector.

Top News

52-Week Highs and Lows: Buy These 3 Stocks From Wednesday’s Good News/Bad News Kind of Day

The NYSE and Nasdaq had 75 52-week highs and 109 52-week lows. The good news is that the NYSE had more highs than lows on Wednesday, while the Nasdaq did not.

Barchart

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The Guardian - UK

Poundstretcher sold to Majestic Wine owner Fortress

US investment firm snaps up UK discount retail chain ‘with huge potential’ for undisclosed sum

The Street

Troubled wireless technology pioneer files Chapter 11 bankruptcy

The Boca Raton, Fla., telecommunications company files for Chapter 11 bankruptcy after several telecom firms filed in 2023.

Fortune

Swan raises $40 million to build out institutional offerings such as Bitcoin-backed lending

The company led by Cory Klippsten has quietly become one of the largest in crypto through its Bitcoin-only approach.

AnandTech

Intel Wins Appeal on VLSI Case, $2.18B Judgement Reversed

A U.S. appeals court on Monday overturned a 2021 patent infringement ruling against Intel that awarded patent holding company VLSI $2.18 billion over multiple patent violations. In a two-part decision, the court reversed a previous verdict that found that Intel violated a frequency management patent, while affirming the violation of…

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Fortune

Fortress CEO Scott Purcell steps down after crypto custodian’s sale to Ripple falls through

The crypto custodian was the victim of a multimillion-dollar hacking incident in September.

Zenger

Ripple Withdraws From Fortress Deal, Gains Spot On NBG List

CEO Brad Garlinghouse announces significant developments for Ripple, including the withdrawal from Fortress acquisition and inclusion in NBG's exclusive list.

Fortune

Fortress CEO says hackers stole up to $15 million, mostly in Bitcoin, prior to Ripple acquisition

The crypto custodian had previously not disclosed the extent of the hack.

Fortune

Ripple's deal for Fortress included a bailout for customers who had been hacked

A crypto custody firm called Fortress getting hacked shows yet again how unserious the industry is about cybersecurity.

Al Jazeera

Vice Media to be acquired by Fortress-led lender group for $350m

Vice Media filed for bankruptcy protection last month in a move that capped years of financial difficulties.

TV Tech

Bankruptcy Court Approves Vice Media Sale to Lenders

The lenders acquiring Vice include the Fortress Investment Group, Soros Fund Management and Monroe Capital

PC Gamer

Intel scores a rare win in multi-billion dollar rollercoaster lawsuit that'll make you say 'Is this really what patent law is like?'

Strap in, this is patent law at its most absurd.

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