Red LobsterPhoto byAdobe Stock

Author’s Note

This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: RedLobster.com, CNN and The-Sun.com.

Introduction

This week has come word that the Red Lobster seafood chain is continuing to close locations nationwide, including one in the state of California, as a result of its Chapter 11 bankruptcy.

Let us explore.

Red Lobster, 2024

According to a July 26 report from The-Sun.com, the closing California location is the following: 928 West Huntington Drive, Monrovia, CA 91016.

As excerpted from the report: Two restaurants in Florida will close, as will locations in Alabama, Arizona, California, Colorado and Texas. Red Lobster shuttered a slew of restaurants as it filed for Chapter 11 protection on May 19, citing billions of dollars of debts and "a bloated and underperforming restaurant footprint."

Per a May 20, 2024 CNN Business via Yahoo report, the company had been facing nearly insurmountable financial obstacles over the past several years, noting its recently concluded unlimited shrimp promotion only pushed the chain further into a deleterious state.

As for a current statistic, per the report: The company said it had more than $1 billion in debt and less than $30 million in cash on hand... It expects to continue to close restaurants in the meantime.

As to the California location set to permanently shutter, no date of closure has yet been announced.

Conclusion

In the event of pertinent updates to this matter, inclusive of closure date, I will share them here on NewsBreak.

Thank you for reading.

928 West Huntington Drive
Monrovia, CA 91016