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Economy/Business / Red Lobster restaurants closing: List of doomed locations for the struggling seafood chain ⛓️💥
« Last post by Gefn on Today at 07:21:11 pm »On Monday, Red Lobster abruptly closed dozens of its locations, according to multiple reports. The closures come as the popular seafood chain has struggled in recent years with increasing financial challenges—one of which was the popularity of its Endless Shrimp promotion, which led to an $11 million quarterly loss in late 2023.
Due to these financial hardships, there have been ongoing rumors that Red Lobster is considering filing for Chapter 11 bankruptcy protection. And now CNN reports that Red Lobster is abruptly closing at least 48 of its nearly 650 restaurants.
TAGeX Brands, an auction company that specializes in restaurant and food auctions, has been brought in to sell off equipment from some of the closing locations.
https://www.fastcompany.com/91124703/red-lobster-restaurants-closing-list-of-doomed-locations-2024
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Due to these financial hardships, there have been ongoing rumors that Red Lobster is considering filing for Chapter 11 bankruptcy protection. And now CNN reports that Red Lobster is abruptly closing at least 48 of its nearly 650 restaurants.
TAGeX Brands, an auction company that specializes in restaurant and food auctions, has been brought in to sell off equipment from some of the closing locations.
https://www.fastcompany.com/91124703/red-lobster-restaurants-closing-list-of-doomed-locations-2024
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