New York CNN —Struggling Red Lobster is abruptly closing at least 48 of its restaurants around the country, according to a leading restaurant liquidator.
TAGeX Brands is conducting an online auction of Red Lobster kitchen equipment, furniture and other contents at restaurants closing.
Red Lobster locations in Buffalo, Orlando, Jacksonville and other cities were listed as “temporarily closed” on Red Lobster’s website, according to local news reports.
In 2020, Thai Union, a longtime supplier to Red Lobster, took an undisclosed financial stake in the chain, becoming a key shareholder.
Thai Union said earlier this year it would divest from Red Lobster and take a $530 million loss on its investment.
Persons:
Neal Sherman, “
Organizations:
New, New York CNN —, TAGeX Brands, Thai Union
Locations:
New York, Buffalo, Orlando, Jacksonville, Thai Union