May 20, 2024 — Red Lobster officially entered a Chapter 11 bankruptcy filing on Monday, 20 May.
The beleaguered restaurant chain filed for bankruptcy protection in U.S. Bankruptcy Court in Orlando, Florida, U.S.A., where it is based. Red Lobster said it intends to use the process to drive operational improvements, simplify the business through a reduction in locations, and “pursue a sale of substantially all of its assets as a going concern.”