Red Lobster Files for Chapter 11 Bankruptcy and Announces Restaurant Closures
TOMS RIVER, NJ – Red Lobster has filed for Chapter 11 bankruptcy protection, initiating a significant restructuring of its business operations. Now, there is just one Red Lobster left in New Jersey.
The company announced plans to close an unspecified number of its restaurants across the United States. This decision is part of an effort to streamline operations and stabilize its financial position.
The restructuring process is expected to include negotiations with creditors and a reevaluation of its business model. Red Lobster aims to emerge from bankruptcy with a more sustainable and profitable framework.
Further details regarding the timeline for the closures and the specific locations affected will be disclosed in the coming weeks.
According to the company’s website, there are several locations in New Jersey. The Lawrenceville, Bridgewater, Ledgewood, and East Brunswick restaurants are listed as “Restaurant Temporarily Closed” while Toms River and others remains open.