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  • Milwaukee Journal Sentinel

    A week after closures, Red Lobster files for bankruptcy. What does it mean for Wisconsin locations?

    By David Clarey, Milwaukee Journal Sentinel,

    25 days ago

    https://img.particlenews.com/image.php?url=3RWJOG_0tBdAl6V00

    Red Lobster , the seafood restaurant chain with six locations in Wisconsin, announced its bankruptcy Sunday.

    The chain, known for its cheddar biscuits and ample seafood offerings, made the filing in the bankruptcy court in Florida. As part of the filing, Red Lobster is selling its business to its existing lenders.

    The move comes after 48 of the chain's restaurants closed abruptly a week ago and April reports that the company was mulling bankruptcy. The closures included locations in Wauwatosa and La Crosse.

    Red Lobster said its restaurants will remain open during the bankruptcy process. It said it received $100 million from its lenders to ensure operations are unaffected.

    In a press release announcing the bankruptcy, the company's CEO Jonathan Tibus said that the move was "the best path forward for Red Lobster."

    "It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth," he said. "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."

    What Red Lobsters are left in Wisconsin?

    According to the Red Lobster website, its remaining Wisconsin locations are in:

    Appleton/Grand Chute : 1200 N. Casaloma Drive.

    Ashwaubenon : 1251 Lombardi Access Road.

    Eau Cla ire : 1019 W. Clairemont Ave.

    Greenfield : 4645 S. 76th St.

    M adison : 4502 East Towne Blvd.

    Mount Pleasant : 2800 S. Green Bay Road.

    This article originally appeared on Milwaukee Journal Sentinel: A week after closures, Red Lobster files for bankruptcy. What does it mean for Wisconsin locations?

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