National chain files for bankruptcy after missteps; closing multiple Ohio restaurants
It might be time to learn how to make your own cheddar biscuits.
Last month, the popular national restaurant chain, Red Lobster, announced they were filing for relief under Chapter 11 Bankruptcy after a series of missteps. Specifically, making the $20 all-you-can-eat shrimp a permanent menu feature, instead of just an annual, limited-time offer, cost the company $11 million.
“Bankruptcy is a word that is often misunderstood,” Red Lobster posted on their Facebook. “Filing for bankruptcy does not mean we are going out of business. In fact, it means just the opposite. It is a legal process that allows us to make changes to our business and our cost structure so that Red Lobster can continue as a stronger company going forward. As many of you know, we recently made the tough decision to close a number of our restaurants.”
The social media post emphasized that other large brands, like Delta and Hertz, have also filed for bankruptcy in the past.
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Red Lobster is now closing a handful of their restaurants amid their bankruptcy filing, and one in Columbus already closed, located at 1691 Dublin-Granville Road. Here are the other Red Lobsters closing/have recently already closed:
- 3655 Orange Place, Beachwood
- 6500 Miller Lane, Dayton
- 2340 Tiffin Ave., Findlay
- 1422 Reynolds Road, Maumee
- 255 Graff Road SE, New Philadelphia
- 7607 Day Drive, Parma
- 17227 South Park Center, Strongsville
- 4990 Monroe Street, Toledo
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