Red Lobster is preparing to shutdown 23 more of its restaurants by the end of the month, adding to the wave of closures triggered by its bankruptcy. According to recent legal documents, the seafood chain plans to terminate the leases on these locations by Saturday, August 31. This marks the latest in a series of cutbacks, following the shutdown of over 100 outlets earlier this summer, leaving the chain with roughly 500 remaining—down from 650 just a year ago.
As the Red Lobster struggles to stay afloat, it is in the process of being acquired by Fortress Credit Corp., a firm with a track record in restaurant management. Fortress, which also holds stakes in Krystal, Logan’s Roadhouse, and J. Alexander’s, recently extended a $100 million lifeline to Red Lobster to help keep it operational during the bankruptcy.
In a related move, Fortress announced on Monday that Damola Adamolekun, the former CEO of P.F. Chang’s, will take the reins as Red Lobster’s new chief executive once the bankruptcy process concludes. Adamolekun departed from P.F. Chang’s in August 2023 after four years at the helm.
The decision to close these Red Lobster locations stems from their ongoing financial losses. The company’s filing noted that these restaurants are no longer viable and won’t be necessary for the chain’s future operations.
Here are the list of Red Lobster restaurants that are planned to close
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