This isn’t just happening in Illinois. Restaurants in California, Colorado, Maryland, Texas, and Florida have also undergone abrupt closures. Impacted Red Lobster locations’ hours are now listed online as “closed.”
As for the equipment in the restaurants, that’s quickly being sold off. Some of the auctions are happening virtually via TAGeX Brands.
Horrible timing for many Red Lobster employees
The demise of multiple Red Lobster restaurants comes at a terrible period for many workers. Across the country, more businesses have started laying off employees, due to changes in consumer spending habits and inflation.
Within the past several years, Red Lobster’s seen significant turnover in its CEO, CFO, and other high-level positions. Just in 2023, the company launched an Ultimate Endless Shrimp deal on their menu; though it failed to garner the expected revenue. In fact, during last year’s third quarter, Red Lobster documented its $11+ million operating loss.
News concerning this turn of events is spreading quickly online. Many Americans feel taken aback, as there were no warning signs of Red Lobster’s impending closures.
