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  • Asheville Citizen-Times

    Red Lobster 'temporarily' closing restaurants: See what locations are closing in NC

    By Iris Seaton, Asheville Citizen Times,

    14 days ago
    https://img.particlenews.com/image.php?url=1OXxgz_0t1xP24B00

    Bad news for cheddar biscuit fans: Red Lobster, which considered bankruptcy in April, has abruptly closed 87 restaurants temporarily in 27 states.

    While the closures are currently temporary, an online restaurant liquidator is auctioning off kitchen equipment from 48 of the closed locations, leading to speculations that many closures may be permanent.

    The website for liquidator TAGeX Brands says auctions are live and will end periodically on Thursday, and that each winner will receive the "entire contents of the Red Lobster location they bid on."

    Here's the story behind Red Lobster's financial troubles, plus which North Carolina locations are temporarily closed.

    What Red Lobster locations are closing in NC?

    Four of N.C.'s 16 Red Lobster locations have closed temporarily, though none of them are among the 48 locations with kitchen equipment currently being auctioned. The locations are:

    Red Lobster bankruptcy

    This April, the seafood chain considered filing for Chapter 11 bankruptcy in order to attempt to restructure debts, according to USA TODAY.

    Bloomberg reported that Red Lobster's leases and labor costs had caused issues with Red Lobster's cash flows. An additional issue for the company was due to an ill-advised promotion that led to massive debts.

    When Red Lobster's 2023 "Ultimate Endless Shrimp" deal became more popular than expected, it became a major contributing factor in an $11 million loss in the third quarter.

    The limited-time promotional deal which allowed guests an unlimited amount of their choice of two types of shrimp for $20 landed a permanent spot on Red Lobster menus in June. It now costs $25. Red Lobster's parent company, Thai Union Group, said in November 2023 that the chain was headed toward a $20 million loss for 2023.

    USA TODAY reported that Thai Union Group CFO Ludovic Regis Henri Garnier said in an earnings report call that the offer was intended to draw customers into restaurants, but orders exceeded expectations.

    What Red Lobster locations are closing?

    Here's the full list of locations listed as temporarily closed on the Red Lobster website:

    Alabama

    Arizona

    California

    Colorado

    Florida

    • Jacksonville (Commerce Center Drive)
    • Jacksonville (Baymeadows Road)
    • Jacksonville (City Station Drive)
    • Orlando (E. Colonial Dr.)
    • Orlando (W. Colonial Dr.)
    • Orlando (Golden Sky Lane)
    • Tampa (East Busch Blvd.)
    • Tampa (Palm Pointe Dr.)

    Georgia

    Idaho

    Illinois

    Indiana

    • Indianapolis (N. Shadeland Ave.)

    Iowa

    Kansas

    Louisiana

    Maryland

    Mississippi

    Missouri

    New Jersey

    New York

    North Carolina

    North Dakota

    Oklahoma

    Pennsylvania

    South Carolina

    Texas

    • Dallas (E. Technology Blvd.)
    • Dallas (Vantage Point Dr.)

    Virginia

    Washington

    Wisconsin

    Gabe Hauari and Chris Sims, USA TODAY NETWORK, contributed to this report.

    Iris Seaton is the trending news reporter for the Asheville Citizen Times, part of the USA TODAY Network. Reach her at iseaton@citizentimes.com.

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