Versatile and resilient, the lobster survives by molting, shedding its skin and growing into a new, bigger shell.
Red Lobster said it planned to reduce its locations as it prepared to to sell most of its assets.
In the meantime, surviving Red Lobster restaurants will remain open.
It has been a painful, slow end for Red Lobster, whose death throes were telegraphed earlier this year when the company reportedly sought to restructure its debt.
After decades as a General Mills subsidiary, Red Lobster was purchased by a private equity firm in 2014, and bolstered by a 2020 investment from a Thai seafood conglomerate.
Persons:
molting
Organizations:
General Mills