Red Lobster closing 99 restaurants; furniture and equipment auctioned off
Red Lobster struggled with a significant debt load, unfavorable lease terms, and executive turnover.
Poor strategies including an all-you-can-eat-shrimp promotion last fall resulted in a significant loss for Red Lobster.
Red Lobster closing at least 99 locations as its future comes into question - NBC News
Red Lobster seeks a buyer as it looks to avoid bankruptcy filing - CNBC
Red Lobster closes dozens of locations nationwide - Restaurant Business
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