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In a bankruptcy petition filed on Sunday, May 19, the company listed assets of $1 billion and liabilities of $10 billion.
Days before the filing, dozens of Red Lobster locations were listed as "temporarily closed" on the company's website, including these New York locations:
- Kingston,
- Scarsdale,
- Nanuet,
- Poughkeepsie,
- Stony Brook
In an updated list of closures reported by CNN on Thursday, June 6, five new locations in New York have been added to the list, including its Times Square location, as well as another Long Island location (in Copiague), a Capital Region restaurant (in Queensbury) and restaurants in the Bronx and in Lakewood, near Buffalo.
The new list includes the eatery's first scheduled Connecticut closure (in North Haven, on Universal Drive North).
The bankruptcy filing stated that the company "intends to use the proceedings to drive operational improvements, simplify the business through a reduction in locations, and pursue a sale of substantially all of its assets as a going concern."
The company said restaurants not listed as "temporarily closed" on its website will remain "open and operating as usual during the Chapter 11 process."
Founded in 1968, Red Lobster has around 600 restaurants in the United States, Canada, and overseas.
"This restructuring is the best path forward for Red Lobster," Jonathan Tibus, the company's CEO, said in a statement at the timing of the bankruptcy announcement. "It allows us to address several financial and operational challenges, emerge stronger, and become re-focused on our growth.
"The support we've received from our lenders and vendors will help ensure that we can complete the sale process quickly and efficiently while remaining focused on our employees and guests."
This continues to be a developing story. Check back to Daily Voice for updates.
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