Red Lobster Closes Multiple Locations, Selling Equipment at Auction

Red Lobster, the popular seafood chain, is facing financial turmoil as it prepares to file for Chapter 11 bankruptcy protection. As a result, the company has begun to close locations across the country, leaving many employees without warning and a plethora of restaurant equipment up for auction.

Liquidator TageX brands has confirmed that items from nearly 50 Red Lobster locations in 21 states are up for auction online. This includes everything from live lobster tanks to furniture, ovens, refrigerators, and bars. Interested customers can bid on entire lots until Thursday, with pick-up required by the end of the day on Friday.

As the closures have unfolded, former employees have taken to social media to share their shock and disappointment. Some employees arrived for their shifts only to discover that their restaurants had been shut down. Videos on platforms like TikTok show the aftermath of the closures, with one user expressing sadness over the loss of a familiar dining spot.

Red Lobster’s financial struggles have been exacerbated by a popular promotion gone wrong. The “Endless Shrimp” deal, which offered unlimited shrimp for $20, ended up costing the chain $11 million due to its overwhelming popularity.

With Red Lobster expected to file for Chapter 11 as early as next week, the future of the chain remains uncertain. Despite changing ownership and financial challenges, loyal customers are hopeful that the beloved seafood restaurant will find a way to bounce back.