Business & Tech
Red Lobster, Which Closed 3 GA Stores, Files For Bankruptcy
Red Lobster's "Ultimate Endless Shrimp" promotion is cited as a reason for the chain's bankruptcy filing. These GA sites are now closed.
GEORGIA — Red Lobster, which abruptly closed more than 50 restaurants last week, including three in Georgia, has filed for Chapter 11 bankruptcy to recoup millions of dollars in losses stemming from its endless shrimp promotion.
The shuttered restaurants in Georgia include:
These Georgia restaurant locations are up for auction, with all equipment being sold off, according to the firm TagExBrands.
Find out what's happening in Atlantafor free with the latest updates from Patch.
- Athens
- Roswell
- Dublin
Red Lobster’s bankruptcy was expected. Its “Ultimate Endless Shrimp” promotion last year was intended as a limited-time offer but brought in enough new customers that the chain added it to its permanent menu in June. Customers gobbled it up, and the chain reported fourth-quarter 2023 losses of $12.5 million, the outlet reported.
Red Lobster said the remaining restaurants will remain open and continue operating as usual during the bankruptcy process.
Find out what's happening in Atlantafor free with the latest updates from Patch.
“This restructuring is the best path forward for Red Lobster. It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth,” CEO Jonathan Tibus said in a news release. “The support we've received from our lenders and vendors will help ensure that we can complete the sale process quickly and efficiently while remaining focused on our employees and guests.”
Red Lobster locations in Georgia which appear to still be open, include:
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
