Red Lobster has decided to reject 23 leases for stores it sees as a burden. The looming closures span more than a dozen states, including Florida.

Red Lobster is in the process of selling itself to Fortress Credit Corp., a lender experienced in restaurant management that also owns Krystal, Logan’s Roadhouse and J. Alexander’s.

Red Lobster, which is saddled with hundreds of millions of dollars in debt, filed for Chapter 11 bankruptcy in Florida on May 19. Getty Images If Red Lobster wants to continue operating in Times ...

Red Lobster said Thursday that it expects to operate about 544 locations across the US and Canada upon emerging from bankruptcy. That’s down from 578 disclosed as of May’s filing.

Red Lobster said each of the seafood chain’s 545 restaurants across the U.S. started using the new menu on Monday. The notorious endless shrimp deal, however, is not part of it.

Red Lobster filed for Chapter 11 in May after years of weak growth amid mounting competition from fast-casual chains, heavy debt and mismanagement. After the latest streamlining, Red Lobster will ...

Red Lobster suffered big losses with 'Ultimate Endless Shrimp' promotion In 2023, the seafood chain's "Ultimate Endless Shrimp" deal became more popular than expected, inadvertently becoming a key ...

Red Lobster is in trouble. Its solution: all-you-can-eat lobster, just months after an endless shrimp promotion led to deep losses that the company is still trying to dig out of.

Red Lobster is in the process of selling itself to Fortress Credit Corp., a lender experienced in restaurant management that also owns Krystal, Logan's Roadhouse and J. Alexander's.