After Closing 100 restaurants nationwide Red Lobster will close another 23 Restaurants by August 31, check out the reason for the shutdown of Red Lobster Restaurants!
Red Lobster is exercising its right to reject leases at locations it says are unprofitable, according to an Aug. 22 court filing. Previously on May 19, the seafood restaurant chain closed about 100 Restaurants nationwide due to Chapter 11 bankruptcy filing. And recently another 23 Restaurants will be closed and vacated by August 31.
Red Lobster 23 Closing Restaurants Address
Red Lobster 23 Closing Restaurants Address List:
- 1521 S. Yuma Palms Pkwy., Yuma, Arizona
- 8703 Murray Drive, La Mesa, California
- 8407 W. Markham St., Little Rock, California
- 4925 N. Academy Blvd., Colorado Springs, Colorado
- 326 Miracle Strip Pkwy., Fort Walton Beach, Florida
- 5110 N. 9th Ave., Pensacola, Florida
- 8909 U.S. Highway 19, Port Richey, Florida
- 6550 Tara Blvd., Jonesboro, Georgia
- 1604 N. State Road 50, Bourbonnais, Illinois
- 902 Commons Drive, Geneva, Illinois
- 4625 N. Sterling Ave., Peoria, Illinois
- 4353 Franklin St., Michigan City, Indiana
- 8900 Golden Valley Road, Golden Valley, Minnesota
- 12515 Elm Creek Blvd. North, Maple Grove, Minnesota
- 2381 Maplewood Commons Drive, Maplewood, Missouri
- 925 Hunts Point Ave. Bronx, New York
- 750 Upper Glen St., Queensbury, New York
- 304 A Western Blvd., Jacksonville, North Carolina
- 17227 Southpark Center, Strongsville, Ohio
- 1270 Knox Abbott Drive, Cayce, South Carolina
- 555 S. Van Dorn St., Alexandria, Virginia
- 4415 S. Laburnum Ave., Richmond, Virginia
- 709 Independence Blvd., Virginia Beach, Virginia
Edward Peterson Insights
Red Lobster has requested a hearing for August 29. Attorney Edward Peterson a Tampa-based law firm Johnson Pope, who is not involved in the proceedings, said the scheduling of the hearing for that day is intended to get the company out of locations in time to avoid incurring another month’s rent payments for them.
Peterson said that one of the real benefits of a bankruptcy case for a debtor that has multiple leases or multiple contracts is that they can get rid of them. All that is required is that the debtor show that the leases are burdensome and low standard.
Judge Grace Robson will likely enter the relevant order on August 29, Paul Singerman of Berger Singerman will be the attorney of Red Lobster.
Peterson described that the Chapter 11 proceedings are readying the company for sale to the Fortress Investment Group, to which Red Lobster owes about $365 million.
Landlords at the shuttered restaurants will have unsecured claims for rejection damages. Peterson said that they will likely fall in the pot of the unsecured creditor class, for which money has been set aside.
Read More: Pavel Durov Telegram CEO Arrested by French Authorities.
Q: Is Red Lobster closing stores?
Ans: Yes, Red Lobster is closing stores which is more than 100.
Q: Why is Red Lobster closing locations?
Ans: Due to unprofitable business Red Lobster is closing restaurants nationwide.
Q: Did Red Lobster get bought out?
Ans: No, Red Lobster did not get bought out. (current owner Golden Gate Capital)
Q: Is Red Lobster going out of business in 2024 in the USA?
Ans: No, Red Lobster is not going out of business.
1 thought on “Red Lobster Closing 23 Restaurants Within Few Days”