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Seafood restaurant chain Red Lobster has closed one hundred locations around the United States, according to its website.on LinkedIn on Monday that his company would be hosting “the largest restaurant liquidation” through an online auction. The TAGexlisted auctions for 48 Red Lobster locations throughout the U.S. that had been closed and would be auctioning off kitchen items and furniture from the locations.
The first Red Lobster location was opened in Lakeland, Florida, in 1968, and today the seafood chain has more than“For those who have been in the US recently, $20 was very cheap,” Red Lobster CFO Ludovic Garnier said in a statement in November. “And the rationale for this promotion was to say we knew the price was cheap, but the idea was to bring more traffic in the restaurants.”
ThaiUnion, a Thailand-based company that specializes in producing seafood-based products, bought a stake in Red Lobster in 2020. Years later, in January 2024, ThaiUnion released athat it would be exiting from Red Lobster and taking a $530 million loss from its investment in the company.
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