Red Lobster Hospitality, LLC is an American casual dining restaurant chain founded in 1968 and headquartered in Orlando, Florida. The company is known for its crab, lobster, and shrimp dishes. As of 2024, it operates in over 500 locations worldwide.
According to reports, Red Lobster has filed for Chapter 11 bankruptcy, citing macroeconomic conditions as well as increased competition within the restaurant industry. The company has $1 billion USD in debt and has received $100 million USD from lenders to keep operations running during the transition.
It also plans to sell the business and have the lenders manage it.
