Popular Food Chain Is Closing Over 99 Locations

Bidenomics is in full effect.

Red Lobster, a popular seafood chain, has announced it will be closing over 99 locations.

The announcemnet was made by Neal Sherman, founder and CEO of TAGeX Brands, who announced he is leading the closure over 50 locations of Red lobsters.

The closure of Red Lobster comes due to the chain facing significant debt, unfavorable lease terms, and its all you can eat shrimp promotion backfired.

Biden’s Build Back Better.

Red Lobster abruptly closes at least 50 restaurants, including 14 in NY and NJ. 56 year old restaurant chain considers filing for bankruptcy due to rising costs.

Yet, Democrats want you to think that Biden is doing a great job! pic.twitter.com/IdQHNFBsOI

— I Meme Therefore I Am 🇺🇸 (@ImMeme0) May 14, 2024

Per NBC News:

At least 99 locations of Red Lobster are being auctioned off amid questions about the stalwart seafood chain’s long-term future.

In a post Monday on LinkedIn, Neal Sherman, founder and CEO of TAGeX Brands, a liquidation firm, announced he was leading the closure of more than 50 Red Lobster locations, with the restaurants’ equipment to be auctioned off.

A web page dedicated to the liquidations showed closure locations across the U.S. including in Denver; Indianapolis; Rochester, New York; Sacramento, California; San Antonio; and San Diego.

On Tuesday, Restaurant Business Magazine reported 99 locations were closing.

The closures represent about 15% of the company’s approximately 700 locations, though it remains the largest seafood restaurant chain in the U.S.

Red Lobster has struggled with a significant debt load, unfavorable lease terms, executive turnover and ill-advised strategies including an all-you-can-eat-shrimp promotion last fall that resulted in a significant loss for the company.

#Bidenomics. https://t.co/CcnjH1pnay

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Here is the full list of what locations will be closing according to ABC 7 New York:

Here’s a look at which locations will be closing.

Alabama

Auburn
Decatur

California

Fremont
Redding
Rohnert Park
Sacramento
San Diego
Torrance
Colorado
Denver
Lakewood
Lone Tree
Wheat Ridge

Florida

Altamonte Springs
Gainesville
Hialeah
Largo
Orlando

Georgia

Athens
Roswell
Dublin
Idaho
Lewiston
Illinois

Bloomingdale
Danville
Indiana
Indianapolis
Elkhart
Iowa

Council Bluffs
Waterloo
Maryland

Gaithersburg
Columbia
Silver Spring
Laurel

Michigan

Fort
Gratiot
Mississippi
D’lberville

New York

Amherst
Kingston
Rochester
New Jersey

Ledgewood
North Dakota
Grand Forks

Oklahoma

Lawton

South Carolina

Myrtle Beach

Texas

Lake Jackson
Long View
San Antonio

Virginia

Colonial Heights
Williamsburg
Newport News

Washington
Silverdale

Wisconsin

Wauwatosa
La Crosse