Red Lobster (RLC) Closes 2 Locations, Totaling 163 Since Bankruptcy

Red Lobster is set to close two locations in Alabama on September 6, 2024, reducing its total to 522 locations from 524. This action follows a bankruptcy restructuring where the chain had to close about 163 locations out of 687 leases. Red Lobster, which currently employs around 34,000 people, had 551 restaurants operational at the time of its bankruptcy filing on May 13, 2024. For investors, these closures reflect ongoing challenges in the casual dining industry and may impact future performance and profitability of Red Lobster (RLC).