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 restaurant inventory, including kitchen equipment, furniture, tables and chairs. 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. Red Lobster did not respond to CNN’s requests for comment. Thai Union said earlier this year it would divest from Red Lobster and take a $530 million loss on its investment.

Source: CNN May 14, 2024 13:31 UTC