Categories: Trending now

Red Lobster is closing another 23 restaurants. Here’s where they are

2024-08-27 01:05:02


New York
CNN
 — 

Roughly two dozen more Red Lobster locations are scheduled to close within the coming days as part of the seafood restaurant chain’s ongoing bankruptcy proceedings.

A recent court filing shows that the company is rejecting the leases of an additional 23 locations by Saturday, August 31, joining the more than 100 restaurants that Red Lobster closed earlier this summer. Once complete, the chain will have around 500 outlets left — a sharp decline from the 650 it had just last year.

Red Lobster is in the process of selling itself to Fortress Credit Corp., a lender experienced in restaurant management that also owns Krystal, Logan’s Roadhouse and J. Alexander’s. The firm recently gave the seafood chain a $100 million loan to allow it stay afloat.

On Monday, Fortress announced that it will install the former chief executive of P.F. Chang’s, Damola Adamolekun, as Red Lobster’s new CEO once the chain exits bankruptcy proceedings. Adamolekun left the Chinese food restaurant chain in August 2023 following a four-year stint.

Mismanagement, competition, inflation and other factors brought down Red Lobster, which has been a pioneer in the restaurant industry. Thai Union, a global seafood supplier, became Red Lobster’s leading shareholder in 2020 and filed for bankruptcy four years later in May.

Under Thai Union’s leadership, Red Lobster’s culture turned toxic, former leaders told CNN. Red Lobster cut costs, removed longtime suppliers and implemented strategies that backfired, such as making $20 endless shrimp a permanent menu item. The chain lost $11 million on the endless shrimp deal.

The new list of restaurants leases identified to be closed “are likely to continue to drive losses” and the company does “not anticipate needing in order to operate their business going forward and can be rejected,” the filing said.

Here are the locations Red Lobster plans to close:

Arizona

-1521 S. Yuma Palms Pkwy., Yuma

Arkansas

-8407 W. Markham St., Little Rock

California

-8703 Murray Drive, La Mesa

Colorado

-4925 N. Academy Blvd., Colorado Springs

Florida

-326 Miracle Strip Pkwy., Fort Walton Beach

-5110 N. 9th Ave., Pensacola

-8909 U.S. Highway 19, Port Richey

Georgia

-6550 Tara Blvd., Jonesboro

Illinois

1604 N. State Road 50, Bourbonnais

-902 Commons Drive, Geneva

-4625 N. Sterling Ave., Peoria

Indiana

-4353 Franklin St., Michigan City

Minnesota

-8900 Golden Valley Road, Golden Valley

-12515 Elm Creek Blvd. North, Maple Grove

Missouri

-2381 Maplewood Commons Drive, Maplewood

New York

-925 Hunts Point Ave., Bronx

-750 Upper Glen St., Queensbury

North Carolina

-304 A Western Blvd., Jacksonville

Ohio

-17227 Southpark Center, Strongsville

South Carolina

-1270 Knox Abbott Drive, Cayce

Virginia

-555 S. Van Dorn St., Alexandria

-4415 S. Laburnum Ave., Richmond

-709 Independence Blvd., Virginia Beach

News Today

Share
Published by
News Today

Recent Posts

Kareena Kapoor’s Next Untitled Film With Meghna Gulzar Gets Prithviraj Sukumaran On Board

Kareena Kapoor is working with Raazi director Meghna Gulzar for her next film. The project,…

17 hours ago

Purdue basketball freshman Daniel Jacobsen injured vs Northern Kentucky

2024-11-09 15:00:03 WEST LAFAYETTE -- Daniel Jacobsen's second game in Purdue basketball's starting lineup lasted…

17 hours ago

Rashida Jones honors dad Quincy Jones with heartfelt tribute: ‘He was love’

2024-11-09 14:50:03 Rashida Jones is remembering her late father, famed music producer Quincy Jones, in…

17 hours ago

Nosferatu Screening at Apollo Theatre Shows Student Interest in Experimental Cinema – The Oberlin Review

2024-11-09 14:40:03 A silent German expressionist film about vampires accompanied by Radiohead’s music — what…

18 hours ago

What Are Adaptogens? Find Out How These 3 Herbs May Help You Tackle Stress Head-On

Let's face it - life can be downright stressful! With everything moving at breakneck speed,…

18 hours ago

The new Mac Mini takes a small step towards upgradeable storage

Apple’s redesigned Mac Mini M4 has ditched the previous M2 machine’s SSD that was soldered…

18 hours ago