It was one of my favorite restaurants for many years, ever since I tried to date the daughter of the CEO of the company that supplied 90% of the fish for the franchise. That was many years ago, and since then, the franchise has seen better days.
Just over a month since Red Lobster declared bankruptcy, many of its locations across the United States remain open, continuing to serve their popular cheddar bay biscuits and a variety of shrimp dishes. Despite the financial setback, the impact on its restaurant operations has been less severe than expected.
In May, when Red Lobster first announced its Chapter 11 bankruptcy in Florida, the company listed 99 restaurants as “temporarily closed” on its website. These locations are now permanently closed, and a few have even been removed from the site altogether. Despite these closures, they represent only about 15% of the 641 restaurants that were operational at the beginning of the year. The majority of Red Lobster’s locations remain open, serving customers across 44 states.
Red Lobster filed for Chapter 11 bankruptcy in Florida in May. Here’s a complete list of the company’s restaurant locations that are still open. https://t.co/nJQ4RqN7vh
— The News-Press (@TheNewsPress) June 21, 2024
The most significant number of closures occurred in Florida, yet the state still boasts 42 operating Red Lobster restaurants, including three in Orlando. Texas has surpassed Florida in the number of open locations, even though it also saw the closure of 10 restaurants recently.
Red Lobster aims to use the bankruptcy process to streamline its operations, reduce the number of locations, and possibly prepare for the sale of its assets. Each restaurant’s current status, open or closed, is updated weekly on the Red Lobster website, which provides a detailed list by state for interested customers.
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We celebrate Milwaukee🍺🎉, break down Tom Brady’s HOF speech🏈, a white Buffalo confirms a Lakota prophecy🦬, Red Lobster kicks off Crabfest🦀& a cat receives a doctorate in Vermont🐱🎓Listen Wed🎧 or watch on YouTube📺#MadigansPubcast pic.twitter.com/rJ7kGJtO9H
— Kathleen Madigan (@kathleenmadigan) June 20, 2024
The map on Red Lobster’s website strikingly illustrates how widespread the restaurants are, with locations nearly outlining several states. Founded in 1968, Red Lobster has grown to become the largest seafood chain in the U.S.
This restructuring phase for Red Lobster reflects broader trends in the restaurant industry, where many chains are forced to evaluate their business models and operations in response to changing market dynamics and consumer preferences. Despite the closures, Red Lobster continues to be a staple for seafood lovers across the nation, offering a mix of classic dishes and new menu items to attract a diverse clientele.
Key Points:
i. Red Lobster filed for Chapter 11 bankruptcy in Florida, resulting in the closure of 99 locations, which is about 15% of its total restaurants.
ii. Despite these closures, over 500 Red Lobster locations remain open across 44 states, continuing to serve popular menu items.
iii. Florida experienced the highest number of closures but still has 42 operating locations, while Texas has the most locations overall.
iv. The bankruptcy proceedings aim to streamline operations, reduce the number of locations, and potentially prepare for the sale of assets.
v. Red Lobster updates the status of each restaurant weekly on its website, reflecting the chain’s ongoing adjustments in response to market conditions.
Charles William III – Reprinted with permission of Whatfinger News
