Orlando, FL – Red Lobster has filed for Chapter 11 bankruptcy protection, initiating a significant restructuring of its business operations.
Despite the company’s decision to close an unspecified number of restaurants across the United States, both Red Lobster locations in Delaware will remain open. This decision is part of an effort to streamline operations and stabilize its financial position.
The restructuring process is expected to include negotiations with creditors and a reevaluation of its business model. Red Lobster aims to emerge from bankruptcy with a more sustainable and profitable framework.
Further details regarding the timeline for the closures and the specific locations affected outside of Delaware will be disclosed in the coming weeks.