Red Lobster Abruptly Closes Dozens Of Restaurants

Red Lobster has abruptly closed 87 restaurants across 27 states, marking them as “temporarily closed” on their website, but also auctioning off kitchen equipment from some of the locations. The closures come as the company considers restructuring its debt through Chapter 11 bankruptcy. Factors in the sudden changes are high lease and labor costs, as well as financial losses brought on by the restaurants’ popular "Ultimate Endless Shrimp" promotion.