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Red Lobster shutters dozens of restaurants, puts them up for auction

Posted on AllSides May 14th, 2024
From The Left

Red Lobster is shuttering dozens of restaurants across the country, including several locations in New York and New Jersey. The restaurant chain, famous for bringing affordable seafood to middle-class costumers, has long been heralded as a pioneer in the casual dining industry. In recent months, however, it has been plagued by a large debt load, executive turnover and financial losses, triggering considerations of a Chapter 11 Bankruptcy filing. Their struggles have seemingly culminated in restaurant closures spanning several states, marking one of the only times Red Lobster has been forced...

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