Legendary restaurant chain closes eight branches in bid to save struggling company — see if your local is on the list
The seafood chain is struggling to keep some stores open due to high labor and food costs.
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Just this month, an Ohio location reportedly underperformed compared to other branches and was forced to close after 45 years.
This location marks Red Lobster’s fourth shutdown in weeks.
The eight sites to be closed are:
- Syracuse, New York
- Albemarle County, Virginia
- Danville, Virginia
- St. Louis, Missouri
- Beachwood, Ohio
- San Angelo, Texas
- Oakhurst, New Jersey
- Naples, Florida
Founded in 1968, Red Lobster has 680 restaurants in its portfolio across the United States and Canada.
The company is improving its menu and operations, which will likely vary by location.
These changes follow the acquisition of Red Lobster by a major seafood supplier and investor, Thai Union Group and Seafood Alliance, in 2020.
The purchase was seen as an attempt to grow the business again as it was acquired by two well-known international restaurant operators, Paul Kenny and Rhett Theracumen.
The chain said the recent closures are a normal part of the process and a path to growth.
“We regularly review our restaurant portfolios as part of the normal course of business,” a Red Lobster spokesperson told The US Sun.
“As a result, we have concluded that these sites are no longer suitable for Red Lobster,” they added.
Red Lobster also reported that employees have been offered transfers where there are nearby locations.
Other restaurants are struggling
In recent years, restaurants and retailers have struggled to keep their doors open with the pandemic exacerbating existing problems.
Huge chains have had to make tough decisions as the price of just about everything continues to skyrocket.
Fast food restaurants like Boston Market have had no choice but to close nearly 10 percent of their locations, as reported by Fox News.
The Atlanta-born Applebee’s was another restaurant that took huge hits in recent years as the number of locations dropped from 1936 to 1846, according to reports.
Massive retailers were also feeling the pressure as the move toward digital slowed brick-and-mortar sales.
Once at the top, retailers like J.Crew, Bed Bath & Beyond, and Lucky Brand were forced to either close their doors or file for bankruptcy.
Additionally, Macy’s closed 25 of its locations in 2019 with another 125 permanent store closures leading up to the pandemic.
This was all part of a three-year plan to close five of its stores.
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