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Red Lobster Closes 90 Locales

Seafood chain to file bankruptcy next week: report




Courtesy of Red Lobster

Red Lobster (Orlando) has closed at least 90 restaurants across the country, report a variety of publications, including a Nexstar story posted on The Hill. The closures were disclosed on the company’s website, in a listing of the brand’s 650 or so total locales.

As of earlier this week, 90 or so locations in 27 states – including Florida, New York, Iowa and Illinois – were shown as “closed” on the site.

The beleaguered seafood chain will be auctioning off the contents of at least 48 locations, according to a TAGeX brands, a restaurant supply liquidator. It’s not clear if there are any plans to reopen the restaurants not listed.

Red Lobster owner Thai Union Group announced in January 2024 that it was looking to sell its stake in the brand, citing the impact of a “combination of [the] COVID-19 pandemic, sustained industry headwinds, higher interest rates and rising material and labor costs” on profits. The chain is expected to file for bankruptcy later this month, The Wall Street Journal reports.

The company has faced financial and internal challenges within the past few years. Between 2021 and 2022, the company welcomed a fresh lineup of executives, including a new CEO, CFO, CMO and CIO, according to CNN. All of them reportedly left within two years.

Then there was the endless shrimp debacle. Last June, the company offered its “Ultimate Endless Shrimp” — typically a limited offer — on their regular menu for $20. The move to get more people into the stores worked, but it also turned into a major money-loser.




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