Red Lobster closings: These are the locations it wants to shut down

New York CNN —

Red Lobster wants to close several dozen more restaurants following its bankruptcy, and it has identified which ones are in danger of shutting down if the court approves its plan.

The chain, which brought affordable shrimp and lobster to middle-class America and grew to become the largest seafood restaurant chain in the world, filed for bankruptcy last month.

Red Lobster said that it had more than $1 billion in debt and less than $30 million in cash on hand. It plans to sell its business to its lenders, and in turn, it will receive financing to stay afloat. Part of its plan is to close some locations of its nearly 600 restaurants in the meantime.

A few weeks prior to its bankruptcy, it abruptly closed around 50 locations across the United States. The new list of locations in danger of closing was revealed in court filings last week, and all could be shuttered if they can’t renegotiate their leases.

The list below, which also includes its iconic Times Square location, contains some restaurants that have already closed in May.

Alabama

- 2620 McFarland Blvd. E, Tuscaloosa

Arizona

- 2500 S. Beulah Blvd., Flagstaff

- 7921 W. Bell Rd., Peoria

- 2810 North 75th Ave., Phoenix

- 5061 North Oracle Road, Tucson

- 1521 S. Yuma Palms Parkway, Yuma

Arkansas

- 3885 N Shiloh Drive, Fayetteville

- 7401 Rogers Ave., Fort Smith

- 4500 Central Avenue, Hot Springs

- 8407 W. Markham Street, Little Rock

California

- 6231 Sunrise Blvd, Citrus Heights

- 503 E. Calaveras Blvd., Milpitas

- 928 W. Huntington Ave., Monrovia

- 4095 Century Blvd, Pittsburg

- 1720 N Main Street, Salinas

- 195 E. Hospitality Lane, San Bernardino

- 2040 Aborn Road, San Jose

- 2283 W. March Lane, Stockton

- 1180 Admiral Callaghan Lane, Vallejo

Colorado

- 4925 N Academy Blvd, Colorado Springs

- 3301 S. College Ave., Fort Collins

- 2885 23rd Ave, Greeley

- 3306 N Elizabeth Street, Pueblo

Connecticut

- 320 Universal Drive North, North Haven

Delaware

- 309 Rocky Run Parkway, Talleyville

Florida

- 340 West SR 436, Altamonte Springs

- 2475 Highway 27 South, Clermont

- 26320 U.S. 19th North, Clearwater

- 2000 University Dr., Coral Springs

- 5950 N Federal Hwy, Fort Lauderdale

- 3801 Cleveland Ave, Fort Myers

- 326 Miracle Strip Pkwy S.W., Fort Walton Beach

- 5690 Irlo Bronson Memorial Hwy, Kissimmee

- 6638 Lake Worth Road, Lake Worth

- 3706 North Road 98, Lakeland

- 10010 US Highway 441, Leesburg

- 2355 W. New Haven Ave., Melbourne

- 215 E Merritt Island Causeway, Merritt Island

- 11550 SW 88th St., Miami

- 13300 Biscayne Blvd., North Miami

- 32 Blanding Blvd., Orange Park

- 617 N. Alafaya Trail, Orlando

- 9892 International Drive, Orlando

- 8003 Golden Sky Lane, Orlando

- 5110 N 9th Ave., Pensacola

- 8909 US Highway 19, Port Richey

- 2328 Commercial Way, Spring Hill

- 6151 34th Street North, St. Petersburg

- 11601 N. Dale Mabry, Tampa

- 3830 Wedgewood Lane, The Villages

- 2201 Palm Beach Lakes Blvd., West Palm Beach

Georgia

- 2679 Adams Farm Dr., Columbus

- 6550 Tara Blvd, Jonesboro

- 700 Shorter Ave., Rome

- 2579 Cobb Parkway, Smyrna

Illinois

- 1604 N. State Road, Route 50, Bourbonnais

- 1901 N. Prospect Ave., Champaign

Indiana

- 1900 S. US 31 By-Pass, Kokomo

- 4353 Franklin Street, Michigan City

- 5400 National Road East, Richmond

Iowa

- 1100 Buckeye Ave., Ames

Kansas

- 9475 Metcalf Avenue, Overland Park

- 1915 S Wanamaker Road, Topeka

Kentucky

- 4639 Outer Loop, Louisville

- 5151 Hinkleville Road, Paducah

Maryland

- 2314 N Salisbury Blvd, Salisbury

Michigan

- 4109 Wilder Road, Bay City

- 3920 28th St., SE Kentwood

- 479 Telegraph Road, Waterford

Minnesota

- 1951 American Blvd. West, Bloomington

- 8900 Golden Valley Road, Golden Valley

Mississippi

- 895 Barnes Crossing Road, Tupelo

Missouri

- 12235 Saint Charles Rock Rd, Bridgeton

- 3885 N Shiloh Drive, Fayetteville

- 4328 Noland Rd, Independence

- 3131 Range Line Rd., Joplin

New Jersey

- 3003 Route 130 South, Delran

- 4411 Black Horse Pike, Mays Landing

- 211 Route 17 S, Paramus

New York

- 2090 Bartow Ave., Bronx

- 801 Sunrise Highway, Copiague

- 295 E Fairmount Avenue, Lakewood

- 5 Times Square, Manhattan

- 750 Upper Glen Street, Queensbury

- 2220 Nesconset Highway, Stony Brook

North Carolina

- 1805 Walnut Street, Cary

- 304 A Western Blvd., Jacksonville

Ohio

- 6500 Miller Lane, Dayton

- 2340 Tiffin Ave., Findlay

- 1422 Reynolds Road, Maumee

- 255 Graff Road, S.E., New Philadelphia

- 7607 Day Drive, Parma

- 17227 Southpark Center, Strongsville

- 4990 Monroe St., Toledo

Pennsylvania

- 935 Wayne Ave, Chambersburg

- 425 W. DeKalb Pike, King of Prussia

- 4766 McKnight Rd., Pittsburgh

South Carolina

- 1270 Knox Abbott Drive, Cayce

- 2080 Sam Rittenburg Blvd, Charleston

Tennessee

- 2131 Northgate Mall Dr, Chattanooga

Texas

- 3815 S. Lamar Blvd., Austin

- 109 W. Anderson Lane, Austin

- 5825 South Padre Island Drive, Corpus Christi

- 603 N. co*ckrell Hill Road, Duncanville

- 3056 Preston Road, Frisco

- 2760 S. Highway 6, Houston

- 5034 50th Street, Lubbock

- 7800 Bedford-euless Road, North Richland Hills

- 5815 N. Loop 1604 West, San Antonio

- 1381 S.W. Loop 410, San Antonio

- 17415 US 281 North, San Antonio

- 100 Ih 35 North, San Marcos

- 18446 Interstate 45 South, Shenandoah

- 3002 Saint Michael Drive, Texarkana

- 4401 Kemp Blvd., Wichita Falls

Virginia

- 555 S. Van Dorn Street, Alexandria

- 4115 Chesapeake Square Blvd, Chesapeake

- 10325 Fairfax Blvd., Fairfax

- 3109 Spotsylvania Mall Drive, Fredericksburg

- 5400 National Road East, Richmond

- 8009 West Broad Street, Richmond

- 709 Independence Blvd., Virginia Beach

- 821 Lynnhaven Pkwy, Virginia Beach

Washington

- 4231 196th SW, Lynwood

- 3208 NW Randall Way, Silverdale

West Virginia

- 3705 Murdock Ave., Parkersburg

Red Lobster closings: These are the locations it wants to shut down | CNN Business (2024)

FAQs

Why is Red Lobster closing locations? ›

CEO Thiraphong Chansiri said the pandemic, higher interest rates, rising material and labor costs have all played a role in Red Lobster's poor financial performance.

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Is Red Lobster going out of business in 2024? ›

"Bankruptcy is a word that is often misunderstood," Red Lobster's communications team said in the statement posted to social media. "Filing for bankruptcy does not mean we are going out of business. In fact, it means just the opposite.

Get More Info Here ›

Why is Red Lobster downsizing? ›

So, a seafood restaurant with that name has turned into a luxury restaurant in the eyes of consumers. After all, perception is reality. As a result, despite all efforts by management to attract customers, Red Lobster is now a money loser. The reason for the unit closures is high debt.

Find Out More ›

How is Red Lobster doing as a company? ›

Under new owners, Red Lobster refinanced its debt in early 2021, just as insolvency beckoned. One former lender called it an out-of-court restructuring, meaning it resembled a formal bankruptcy. New management came in, prices went up, costs were cut, and the chain sought rent concessions.

Tell Me More ›

Who bought out Red Lobster? ›

General Mills quickly bought Red Lobster and in 1995 spun the chain off into a new company, Darden Restaurants, named after its founder. In 2014, Darden sold Red Lobster to Golden Gate Capital, a private equity firm, for $2.1 billion. To help fund the deal, Red Lobster spun off its real estate.

Read The Full Story ›

Does Olive Garden still own Red Lobster? ›

Red Lobster later became part of Darden Restaurants, the owner of Olive Garden and other chains. In 2014, Darden sold off Red Lobster to Golden Gate Capital, a private equity firm, for $2.1 billion. Since 2020, seafood distributor Thai Union Group, based in Thailand, has been the largest Red Lobster shareholder.

Learn More Now ›

Is Red Lobster abruptly closing at least 48 struggling locations? ›

Struggling Red Lobster is abruptly closing at least 48 of its restaurants around the country, according to a leading restaurant liquidator. TAGeX Brands is conducting an online auction of Red Lobster restaurant inventory, including kitchen equipment, furniture, tables and chairs.

Get More Info Here ›

Why did Darden get rid of Red Lobster? ›

Red Lobster's sales began declining and Darden prioritized investments in its other brands. Darden soon faced pressure from activist investors pushing the company to split in two. Darden responded to activist pressure by announcing plans in 2013 to sell Red Lobster, separating the chain from the rest of its business.

Learn More ›

Is Red Lobster making money? ›

Red Lobster, the casual dining restaurant chain with 550 locations, is entering Chapter 11 bankruptcy proceedings, turning over ownership for a second time in ten years as its sales and revenues continue to nosedive precipitously.

Has Red Lobster gone bust? ›

Red Lobster Is Heading For Bankruptcy After Losing $11M On Endless Shrimp Deal. It's been a tumultuous few years for Red Lobster. The restaurant shuttered eight locations in 2023.

Discover More ›

Why is Red Lobster dark? ›

Lobsters' shells thicken not long after molting. The thicker, 'hard-shelled' lobsters tend to be darker in color than 'soft shell' lobsters that have recently shed their exoskeletons.

Is Red Lobster going out of business in 2024 in the USA? ›

"Filing for bankruptcy does not mean we are going out of business," reads part of the statement. "In fact, it means just the opposite. It is a legal process that allows us to make changes to our business and our cost structure so that Red Lobster can continue as a stronger company going forward."

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Who is the new investor in Red Lobster? ›

Red Lobster's new owner will be Fortress Investment Group.

Get More Info Here ›

How much money did Red Lobster lose? ›

Red Lobster suffered a $76 million net loss during fiscal year 2023, according to Tibus. Cash losses, including $31 million from June 2023 to September 2023, led to Red Lobster's liquidity rapidly declining, the CEO said in the document.

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Why is lobster being taken off the menu? ›

Some retailers are taking lobster off the menu after an assessment from an influential conservation group that the harvest of the seafood poses too much of a risk to rare whales and should be avoided.

Why is there a lobster shortage? ›

“There is less of a lobster catch because of the warmer waters,” Cooper said. “For live lobsters from Maine, you can only buy certain sizes and they have all kinds of limits.”

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Could Red Lobster close three more Pennsylvania restaurants this year? ›

Three more Red Lobster locations in Pennsylvania could be shuttered this year if the struggling seafood restaurant chain can't renegotiate leases in certain locations. According to a recent bankruptcy court filing, locations in Pittsburgh, Chambersburg and King of Prussia face closure possibilities.

Red Lobster closings: These are the locations it wants to shut down | CNN Business (2024)

FAQs

Why is Red Lobster closing locations? ›

Has Red Lobster gone bust? ›