Red Lobster restaurant – Courtesy: Shutterstock — Tada Images
According to a recent article from restaurantbusinessonline.com, Red Lobster plans to close more locations around the US.
The company allegedly stated in bankruptcy filings on Thursday that it has turned down leases for 23 failing locations, which it intends to close by August 31.
The popular seafood restaurant chain’s locations have decreased by more than 20% since the end of 2023, with the closures coming after over 90 shutdowns in May.
Red Lobster, an Orlando, Florida-based restaurant, stated in court documents that its yearly visitor count was 30 percent fewer than in 2019. 2023 saw a $76 million loss for the chain.
According to the report, the restaurant business is expected to be sold to Fortress Investment Group in order to avoid bankruptcy. September 5 is the date of the selling hearing.
The closures will have an impact on Pensacola, Port Richey, and Fort Walton Beach, three sites in Florida.
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Chris began his writing as a hobby while attending Florida Southern College in Lakeland, Florida. Today he and his wife live in the Orlando area with their three children and dog.
