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The outlet reported that the seafood restaurant chain is being advised by law firm King & Spalding on the subject, and that while discussions about restructuring are ongoing, no final decisions have been made about a bankruptcy filing.
-->In November 2023, Red Lobster made headlines after one of its executives revealed in a quarterly finance report that the group suffered an $11.3 million loss – and that the chain’s popular “Ultimate Endless Shrimp” promotion was partly to blame.
FOX 35 reached out to Red Lobster on Wednesday for comment, but did not receive an immediate response. If we do, we’ll update our story.
Before it was a national chain, Red Lobster started as a single restaurant in Florida.
Over the next 60 years, the restaurant chain expanded, gained investors, changed owners, and at its peak, opened more than 700 restaurants across the United States.
How many restaurants does Red Lobster have in Florida?
Here is a list of Red Lobster’s restaurant locations:
Who owns Red Lobster?
In 1995, General Mills established a new company for its restaurant brands, Darden Restaurans, Inc.
In 2020, Thai Union Group, which had a small stake in Red Lobster already, bought the restaurant brand from Golden Gate Capital.
“The combination of Covid-19 pandemic, sustained industry headwinds, higher interest rates and rising material and labor costs have impacted Red Lobster, resulting in prolonged negative financial contributions to Thai Union and its shareholders,” said Thiraphong Chansiri, Thai Union Group’s CEO, in a news release.
In March 2024, Red Lobster reportedly named Jonathan Tibus as its next CEO after Horace Dawson retired, according to the Orlando Business Journal. Dawson was named CEO in September 2023.