Red Lobster closing at least 99 locations as its future comes into question
At least 99 locations of Red Lobster are being auctioned off amid questions about the stalwart seafood chain's long-term future.
At least 99 locations of Red Lobster are being auctioned off amid questions about the stalwart seafood chain's long-term future.
In a post Monday on LinkedIn, Neal Sherman, founder and CEO of TAGeX Brands, a liquidation firm, announced he was leading the closure of more than 50 Red Lobster locations, with the restaurants' equipment to be auctioned off.
A web page dedicated to the liquidations showed closure locations across the U.S. including in Denver; Indianapolis; Rochester, New York; Sacramento, California; San Antonio; and San Diego.
On Tuesday, Restaurant Business Magazine reported 99 locations were closing.
The closures represent about 15% of the company's approximately 700 locations, though it remains the largest seafood restaurant chain in the U.S.
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