Red Lobster locations across the country are showing up with closed signs.
A look at the restaurant chain’s website reveals that 87 stores are temporarily closed in 27 states. But some of them put their equipment up for auction.
TAGeX Brands recently released an online auction titled “The Largest Restaurant Equipment Auction Ever,” featuring restaurant equipment from shuttered Red Lobster locations. The 48 locations listed correspond to temporary closures on the company’s website.
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Here’s what you need to know:
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Is Red Lobster permanently closing restaurants near me?
There are currently 87 Red Lobster restaurants listed as temporarily closed on the company’s website, but 48 of them have kitchen equipment up for auction. The online auction closes at 9:30 a.m. on Thursday May 16.
Why did Red Lobster close? “Ultimate Endless Shrimp”
That’s right. “Ultimate Endless Shrimp.” »
A report from Bloomberg indicates that the seafood restaurant chain last month considered filing for Chapter 11 bankruptcy in an effort to restructure its debt. Cash flow was reportedly weighed down by multiple issues, including labor costs and leases.
According to Restaurant Business Magazine, an effort to drive traffic to restaurants has emerged in 2023 – the “Ultimate Endless Shrimp” deal.
The limited-time promotional offer offering two nonstop shrimp options started at $20 per person and exploded in popularity beyond expectations. In fact, the deal accidentally became a major contributing factor to an $11 million loss in the third quarter and is now priced at $25.
Red Lobster was headed for a $20 million loss for 2023, according to comments from parent company Thai Union Group’s CFO Ludovic Regis Henri Garnier during an earnings report call in November.
“We knew the price was cheap,” Garnier told investors, according to the magazine. “We wanted to increase our traffic, and it didn’t work.”
The restaurant still wants to keep “Ultimate Endless Shrimp” on the menu.
“And of course we have to be much more careful about the entry points and the price that we offer for this promotion,” Garnier said.
Is Red Lobster closing locations in Indiana?
Yes. Red Lobster has two locations listed as closed on the website. Both stores are also participating in the kitchen equipment auction which will end in less than two days.
Illinois Mayor Hits Facebook After Closing 2 Red Lobster Locations Statewide
An Illinois mayor in the town of Danville shared the experience of the local store that closed after 31 years of service to the community. Mayor Rickey Williams Jr. was clearly upset by the closure and offered his support to the affected staff.
Which Red Lobster stores are closing in Illinois?
Red Lobster Kitchen Equipment Auctions Online via TAGeX Brands
TAGeX Brands is hosting “the largest restaurant equipment auction ever” featuring kitchen equipment from Red Lobster restaurant. For a complete list of the 48 stores involved in the auction, visit tagexbrands.com/red-lobster.
Bidding ends at 9:30 a.m. on Thursday, May 16. Collection takes place from 9 a.m. to 3 p.m. local time on Friday, May 17.
Winning bidders are responsible for the proper removal and loading of their items. No one on site can help you disconnect, remove or charge items.
List of Red Lobster Closures in 2024: Nearby Restaurant Closures
Each of these restaurants is currently listed as temporarily closed on the website:
Alabama
Arizona
California
Colorado
Florida
Georgia
Idaho
Illinois
Indiana
Iowa
Kansas
Louisiana
Maryland
Mississippi
Missouri
New Jersey
new York
North Carolina
North Dakota
Oklahoma
Pennsylvania
Caroline from the south
Tennessee
Texas
Virginia
Washington
Wisconsin
Chris Sims is a digital content producer at Midwest Connect Gannett. Follow him on Twitter: @ChrisFSims.
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