Dozens of Red Lobster locations across the U.S. are now on the chopping block. Restaurant liquidator TAGeX Brands announced this week that it would be auctioning off the contents of over 50 Red Lobster locations that were closed as part of the seafood chain’s “footprint rationalization.” The closing locations span across more than 20 states.
Restaurant liquidator TAGeX Brands announced this week that it would be auctioning off the equipment of over 50 Red Lobster locations that were recently closed as part of the seafood chain’s “footprint rationalization.” The locations span across more than 20 states — cutting back on Red Lobster’s presence in
On Red Lobster’s website, a handful of impacted locations were listed as “temporarily closed” or “unavailable” Tuesday morning. Maintaing stable management has also proven difficult, with the company seeing multiple ownership changes over its 56-year history. Earlier this year, Red Lobster co-owner Thai Union Group, one of the world’s largest seafood suppliers, announced its intention to exit its minority investment in the dining chain.and upped its stake in 2020.
And then there’s been the problem of endless shrimp. Last year, Red Lobster significantly expanded its iconic all-you-can-eat shrimp deal. But customer demand overwhelmed what the chain could afford, which also
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