Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    U.S. Hotel Construction Shrinks Again for Ninth Consecutive Month

    October 23, 2025

    AWS Restores Services After Major Cloud Outage Disrupts Users Globally

    October 22, 2025

    Palantir, Snowflake’s Big AI Data Partnership Fails to Win Over Investors

    October 17, 2025
    Facebook X (Twitter) Instagram LinkedIn
    • About Us
    • Press Release
    Friday, October 24
    Facebook X (Twitter) LinkedIn Instagram
    Business Leaders Review: Best Business Magazine and News OnlineBusiness Leaders Review: Best Business Magazine and News Online
    • Home
    • Magazines
    • Featured Leaders
    • Technology
      • Big Data
      • Artificial Intelligence
      • Robotics
      • Cloud
      • Cyber Security
      • Storage
      • IoT
      • Blockchain
      • Data Analytics
    • Industry
      • Banking & Finance
      • Construction
      • Digital Marketing
      • Economy
      • Education
      • EV Industry
      • Food & Beverage
      • Healthcare
      • Legal
      • Manufacturing
      • Mining & Metals
      • Pharmaceutical
    • Testimonials
    • Events
    • Blogs
    • Awards
    • Our Clients
    Business Leaders Review: Best Business Magazine and News OnlineBusiness Leaders Review: Best Business Magazine and News Online
    Home » US: Red Lobsters files for Bankruptcy, closes down outlets
    Food & Beverage

    US: Red Lobsters files for Bankruptcy, closes down outlets

    By Business Leaders ReviewMay 21, 2024
    US: Red Lobsters files for Bankruptcy, closes down outlets

    Red Lobster, America’s largest seafood chain famous for its shrimp and Cheddar Bay biscuits, has filed for bankruptcy.

    Last Monday, Red Lobster’s website identified 87 shops as “temporarily closed” in 27 states, with some auctioning off their kitchen equipment through an online restaurant liquidator.

    Almost 580 facilities in the United States and Canada are planned to remain open during the process, employing approximately 36,000 individuals. Last week, scores of other Red Lobster outlets abruptly closed. The whole items, including freezers, ovens, booths, and lobster tanks, have previously been auctioned off.

    Red Lobster said it will utilize the bankruptcy procedures to “drive operational improvements, simplify the business through a reduction in locations, and pursue a sale of substantially all of its assets.”

    “This restructure is the best way forward for Red Lobster. It enables us to handle a number of financial and operational difficulties while emerging stronger and more focused on our growth,” said Jonathan Tibus, the company’s CEO, in a statement. “The support we’ve received from our lenders and vendors will help ensure that we can complete the sale process quickly and efficiently while remaining focused on our employees and guests.”

    Red Lobster was an early pioneer in that world. It opened in 1968 and grew rapidly during the 1980s and 1990s, hosting generations of Americans for festivities and dates, with many cracking their first lobsters at its tables.

    In recent years, as inflation has risen, Red Lobster has lost out on both ends: to fresher, finer, more local eateries; and to a rising tide of cheaper, faster spots such as Shake Shack or Surfside Taco.

    Related Posts

    U.S. Hotel Construction Shrinks Again for Ninth Consecutive Month

    October 23, 2025

    AWS Restores Services After Major Cloud Outage Disrupts Users Globally

    October 22, 2025

    Palantir, Snowflake’s Big AI Data Partnership Fails to Win Over Investors

    October 17, 2025

    China Blamed for Major Breach at U.S. Cybersecurity Giant F5, Reports Bloomberg

    October 17, 2025

    Pfizer CEO Urges US Pharma Industry to Partner with China

    October 16, 2025

    Stadler Boosts Production Speed with Panasonic’s Automated Robot Welding System

    October 15, 2025
    Top Posts

    U.S. Hotel Construction Shrinks Again for Ninth Consecutive Month

    October 23, 2025

    AWS Restores Services After Major Cloud Outage Disrupts Users Globally

    October 22, 2025

    Palantir, Snowflake’s Big AI Data Partnership Fails to Win Over Investors

    October 17, 2025
    Don't Miss

    U.S. Hotel Construction Shrinks Again for Ninth Consecutive Month

    October 23, 2025

    Key Highlights The U.S. hotel construction pipeline contracted for the ninth consecutive month, underscoring the…

    AWS Restores Services After Major Cloud Outage Disrupts Users Globally

    October 22, 2025

    Palantir, Snowflake’s Big AI Data Partnership Fails to Win Over Investors

    October 17, 2025

    China Blamed for Major Breach at U.S. Cybersecurity Giant F5, Reports Bloomberg

    October 17, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Instagram
    • LinkedIn
    About Us
    About Us

    Business Leaders Review is a global print and digital monthly and yearly magazine, which provides a platform to showcase business/tech leaders and their company’s profile from various sectors. Our aim is to publish the c-suite leaders stories.

    We are helping the leaders & readers to showcase their ideas and innovations to the business and tech world in this current market situation along with their awards and achievements. Doing so we hope to leverage thousands of businesses and personnel around the globe.

    Most Popular

    U.S. Hotel Construction Shrinks Again for Ninth Consecutive Month

    AWS Restores Services After Major Cloud Outage Disrupts Users Globally

    Palantir, Snowflake’s Big AI Data Partnership Fails to Win Over Investors

    Latest Magazines
    Facebook X (Twitter) LinkedIn Instagram
    • Home
    • Our Clients
    • TECHNLOGY NEWS
    • Industry News
    • Contact Us
    • Privacy Policy
    • Reprints and Permissions
    © 2021-2025 Business Leaders Review LLC | All Rights Reserved | Empowering Communication Globally

    Type above and press Enter to search. Press Esc to cancel.