The bankrupt seafood chain is in the process of renegotiating leases on dozens of restaurants, including one in the heart of New York City.
The three-level Red Lobster restaurant that has stood in the heart of New York City's Times Square for 22 years may be in its last days, one of more than 100 additional locations of the bankrupt chain that could soon shut its doors.According to Red Lobster's bankruptcy filing, the high-profile Times Square flagship is on a lease that expires on June 30. The landlord is reportedly looking for $2.
The chain abruptly closed nearly 100 stores last month and suggests another 135 could shutter if it cannot renegotiate their leases. It secured $100 million in financing commitments from existing lenders as part of the bankruptcy.The Thai Union Group, a Bangkok-based seafood supplier, bought 49% of Red Lobster in 2020 as part of a consortium from the private-equity firm Golden Gate Capital, which had bought the seafood company from veteran restaurant operator Darden a decade ago.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Torrance Red Lobster restaurant among locations shuttering across countryAfter the closures of dozens of Red Lobster locations were announced, it was revealed Tuesday the Torrance restaurant was among those shuttering the doors.
Read more »
Power Rangers’ Most Shocking Hero Death Confirmed The Franchise’s Greatest Red RangerIn Space Red Ranger, Lost Galaxy Red Ranger, and Mighty Morphin Red Ranger
Read more »
Flavor Flav Orders Everything on Red Lobster Menu to Help Stop the Chain From Closing DownIris Goldsztajn is a London-based journalist, editor and author. She is the morning editor at Marie Claire, and her work has appeared in the likes of British Vogue, InStyle, Cosmopolitan, Refinery29 and SELF. Iris writes about everything from celebrity news and relationship advice to the pitfalls of diet culture and the joys of exercise.
Read more »
Flavor Flav orders everything on Red Lobster menu in attempt to save restaurant chainFlavor Flav revealed he ordered everything off the Red Lobster menu in an attempt to save the restaurant chain and its cheddar bay biscuits after it recently filed for bankruptcy.
Read more »
Flavor Flav Orders Entire Red Lobster Menu Amid Bankruptcy, In Talks With ChainFlavor Flav's not letting Red Lobster get lost at sea without a fight ... 'cause he's spending his hard-earned bucks mukbangin' their entire menu -- all in an effort to save 'em.
Read more »
No, Red Lobster's 'endless shrimp' deal is not the main reason the chain went bankruptAfter Red Lobster filed for chapter 11 bankruptcy protection, some said endless shrimp caused it. The deal hurt Red Lobster, but other factors contributed more.
Read more »