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The troubled Red Lobster restaurant chain is closing down at least 48 of its roughly 650 branches across the US, according to a restaurant liquidation company.
Red Lobster Hospitality, LLC is an American casual dining restaurant chain headquartered in Orlando, Florida.The company has operations across most of the United States (including Puerto Rico and Guam) and Canada, as well as in China, Ecuador, Japan, Malaysia, Mexico, Philippines, Turkey and the United Arab Emirates; as of June 23, 2020, the company had 719 locations worldwide.
On May 12, 2014, Darden announced that as part of the spinoff of Red Lobster, it was converting the co-located Red Lobster and Olive Garden locations into standalone Olive Garden locations. [27] On May 16, 2014, Darden announced that it would be selling the Red Lobster seafood restaurant chain to Golden Gate Capital for US$2.1 billion. [28]
Unlike many restaurant companies, Red Lobster survived the pandemic without filing for bankruptcy. But longtime leader Kim Lopdrup retired in 2021, beginning a revolving door of CEOs.
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Red Lobster has been through one hell of a year. In May, the company officially filed for Chapter 11 bankruptcy. Food & Wine reported at the time that the filing included 166 pages of creditors to ...