May 14, 2024

Red Lobster in Leesburg Has Closed, Company Nearing Bankruptcy

0.8 min read| Published On: May 14th, 2024|

By Cindy Peterson

Red Lobster in Leesburg Has Closed, Company Nearing Bankruptcy

0.8 min read| Published On: May 14th, 2024|

Social media is buzzing as the Red Lobster in Leesburg has closed down operations. In fact nearly 50 Red Lobster locations across the nation have shut down. For many employees of the restaurant chain, they now find themselves out of a job.

Here’s what we know:

According to a Bloomberg report, the restaurant is considering bankruptcy as it deals with leases and labor costs. After a massive loss in revenue, the company is restructuring in hopes of avoiding the chapter 11 bankruptcy.

As of Monday, signs went up on the doors saying, “This location is closed. We look forward to serving you at another Red Lobster location in the future.”

TAGeX Brands announced their largest restaurant equipment sale ever, as they are selling off equipment for the closed Red Lobster locations. It reads, “As of today, select Red Lobster locations are CLOSED. On our Restaurant Equipment marketplace, we are auctioning off 50+ locations across the country. These auctions are WINNER TAKES ALL – meaning, each winner will receive the ENTIRE contents of the Red Lobster location they bid on. Auctions are live and will end periodically on Thursday, May 16, 2024.”

We reached out to Red Lobster for more details, and will keep updating as the story develops. Will you miss those Cheddar Bay biscuits and all-you-can-eat shrimp?

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About the Author: Cindy Peterson

Originally from the small town of Berryville, Arkansas, Cindy has become a multimedia specialist in journalism, photography, videography and video editing.

She has a B.S. in Communications from the University of Central Arkansas and is a correspondent for The Daily Commercial, LakeFront TV and Beacon College’s PBS talk show, “A World of Difference,” where she received an Anthem Award and Telly Award.

When she isn’t working, Cindy spends time with her husband, Ryan, and son, David, traveling and taking photos of landscapes and wildlife.

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