Red Lobster looks to close more restaurants, including 3 locations in New Jersey
The company filed for bankruptcy last month, claiming to be more than a billion dollars in debt.
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4ds agoMore Red Lobster locations could be shutting down, including three locations in New Jersey, if a court approves the chain's plan.
The company filed for bankruptcy last month, claiming to be more than a billion dollars in debt. Officials hope to sell the business to its lenders in return for financing to keep operating. Part of this plan is to close some of its nearly 600 restaurants.
The restaurant chain has already closed over 50 Red Lobster locations across the country. The latest round of closures could include New Jersey locations:
- 4411 Black Horse Pike, Mays Landing
- 3003 Route 130 South, Delran
- 211 Route 17 South, Paramus
The seafood chain has been struggling with rising lease and labor costs in recent years and also promotions like its iconic all-you-can-eat shrimp deal that backfired.
Demand for one such recent promotion overwhelmed restaurants, reportedly contributing to millions in losses.
Associated Press wires contributed to this story.
