Restaurant Chain With Over 20 New York Locations Contemplates Bankruptcy

According to several experts, a national restaurant chain with more than 20 locations scattered all over the state of New York, is allegedly considering filing for bankruptcy.

Red Lobster, the popular seafood chain was hit hard by the COVID-19 pandemic, with many of its restaurants having to close temporarily due to lockdown measures and it has struggled to bring revenue back up to what it was pre-pandemic.

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The news of a possible bankruptcy filing is not yet confirmed, but sources say that Red Lobster has been in talks with advisors to explore its options. It's worth noting that the company's previous owner, Darden Restaurants, also faced financial struggles and ultimately sold off Red Lobster in 2014.

If Red Lobster does go through with a bankruptcy filing, it's uncertain what that would look like for the company and its employees. However, experts say that it's possible that the chain could continue to operate, potentially with the closure of some locations and the restructuring of its debts.

Red Lobster has been a much-loved seafood chain for many years and has faced challenges in the past that it was able to work through so perhaps restructuring of debt will pull the chain out of its current financial troubles.

It's important to note that nothing is confirmed yet, and it's best to wait for official statements from Red Lobster or its parent company before drawing any conclusions. In the meantime, fans of the restaurant can show their support for the chain and local employees by visiting their nearest Red Lobster restaurant location.