Red Lobster, founded in 1968, files for Chapter 11 bankruptcy, plans to close 23 locations.
Red Lobster, founded in 1968, has filed for Chapter 11 bankruptcy and plans to close 23 locations, including a site in Strongsville, Ohio. The restaurant chain has already closed over 100 locations following a $12.5 million loss in the fourth quarter of 2023. Red Lobster is exercising its rights to leases at these 23 properties and plans to vacate them by August 31.
August 24, 2024
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