Red Lobster is closing more restaurants; is yours on the updated list?

In the third quarter of 2023, the seafood chain reported a loss of more than $11 million, according to Restaurant Business.

Red Lobster has closed more than 90 of its restaurants around the U.S., weeks after speculation that the restaurant chain would be filing for bankruptcy.

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Update 12:20 p.m. EDT May 15: At least 99 Red Lobster restaurants are being closed, Restaurant Business Magazine reported.

In a post Monday on LinkedIn, Neal Sherman, founder and CEO of TAGeX Brands, a liquidation firm, had announced he was leading the closure of more than 50 Red Lobster locations, with the restaurants’ equipment to be auctioned off.

Original story: Locations across the country are listed as “temporarily closed” on the chain’s website, including restaurants in Erie, Pennsylvania; Buffalo, New York; and Orlando and Jacksonville, Florida; according to local news reports.

The chain has 650 locations, according to its website. It was founded in 1968 by Bill Darden, who opened the first restaurant in Lakeland, Florida.

Red Lobster has not commented on the news.

In April, Bloomberg reported that the chain was considering bankruptcy.

According to TAGeX Brands founder Neal Sherman, an online auction of Red Lobster restaurant inventory, including kitchen equipment, furniture, tables and chairs is set to begin on Monday.

“Select Red Lobster locations CLOSED today! Prepare for the LARGEST restaurant liquidation EVER! Fixtures, furniture, and equipment MUST GO,” the liquidator wrote on X, formerly known as Twitter, on Monday.

“Auctions start NOW. SINGLE winner for each location. WINNER TAKES ALL.” TAGeX Brands indicates that the auction, which will continue through Thursday, involves more than 50 Red Lobster locations.

The closings come as the chain has faced financial hits over the past few years.

In the third quarter of 2023, the seafood chain reported a loss of more than $11 million, according to Restaurant Business.

Thai Union Group, the restaurant’s parent company, blamed the seafood chain’s decision to introduce its “Ultimate Endless Shrimp” as a permanent offer on its regular menu as a “key factor” for the company’s losses.

Ultimate Endless Shrimp offers customers as much shrimp as they would like to eat for $20. While the deal helped traffic to Red Lobster grow by 4% year-over-year, the cost outweighed the benefits of the traffic, the company said.

Below is an updated list — as of Wednesday — of the restaurants listed as “temporarily closed”:

Alabama

Arizona

California

Colorado

Florida

Georgia

Idaho

Illinois

Indiana

Iowa

Kansas

Louisiana

Maryland

Michigan

Mississippi

New Jersey

New York

North Carolina

North Dakota

Oklahoma

Pennsylvania

South Carolina

Tennessee

Texas

Virginia

Washington

Wisconsin

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