Red Lobster faces potential closures of over 100 locations, including Time Square
- Red Lobster has listed over 100 restaurants that are at risk of closing, including the iconic Times Square location.
- The seafood chain filed for bankruptcy in May, leading to the imminent closures.
- Financial challenges may force Red Lobster to shut down numerous branches unless lease renegotiations are successful.
Red Lobster found over 100 restaurants that might close, including the one in Times Square. Some of the risky restaurants are in the Tri-State Area, with six in New York, three in New Jersey, and one in Connecticut. The seafood chain filed for bankruptcy in May. The list of at-risk restaurants includes some that have already closed. The Times Square location, known for being popular, is at risk of closing due to high rent. The property owners want $2.2 million per year for the space. Red Lobster has been struggling, with a 30% decrease in customers since 2019. The CEO explained the bankruptcy decision in a document. In total, 99 Red Lobster restaurants have closed in 28 states. The company listed 228 leases that were rejected in the bankruptcy documents. Some of these locations have already shut down. If the bankruptcy plan is approved, the identified restaurants, including the one in Times Square, may close.