Red Lobster considers bankruptcy. Are Ohio locations affected? What we know
Red Lobster is looking to file for Chapter 11 bankruptcy to restructure its debts after attempting a promotion that sank the seafood restaurant chain's bottom line, according to Bloomberg.
On the advice of law firm King & Spalding, filing for Chapter 11 bankruptcy would allow the restaurant chain to stay open while dealing with its debt and help reevaluate long-term contracts and leases.
Red Lobster reported $11 million in operating losses last year after it failed “Unlimited Shrimp Deal.” The seafood chain became a permanent menu option instead of a limited-time promotion, according to ABC News.
During the fourth quarter of 2023, the restaurant chain later reported $12.5 million in losses.
Will Red Lobster restaurants in Ohio be affected?
Not necessarily.
Filing a Chapter 11 bankruptcy doesn’t mean these restaurants will close. It just means they will deal with their debts and other issues while continuing to operate their business.
Where is Red Lobster located in Ohio?
Ohio contains nearly 40 Red Lobster restaurants, including multiple locations in Cincinnati and Columbus:
Cincinnati
8220 Montgomery Road, Cincinnati
320 Cincinnati Mills Dr., Cincinnati
616 Ohio Pike, Cincinnati
3564 Springdale Road, Cincinnati
Columbus area
1520 Georgesville Road, Columbus
2147 S. Hamilton Road, Columbus
1270 Polaris Parkway, Columbus
6091 Sawmill Road, Dublin
909 Hebron Road, Heath
1515 River Valley Circle North, Lancaster
Akron
3901 Medina Road, Akron
Canton
4600 Belden Village Street NW, Canton
You can find a Red Lobster near you on their website.
This article originally appeared on Cincinnati Enquirer: Red Lobster files for bankruptcy. Will restaurants in Ohio stay open?