Red Lobster has closed approximately 100 of its U.S. restaurants as the seafood chain navigates its Chapter 11 bankruptcy case. The closures, which began in late April, affect nearly one-third of the company's domestic locations. This move follows a period of financial distress for the company, which reported significant losses in recent quarters, partly attributed to an all-you-can-eat shrimp promotion.

The company filed for Chapter 11 bankruptcy protection in Delaware in May, listing between $1 billion and $10 billion in debts. Red Lobster plans to continue operations at its remaining locations while it seeks to reorganize its business.

Key Takeaways

• Red Lobster has closed around 100 U.S. restaurants.
• These closures are part of the company's Chapter 11 bankruptcy filing.
• The company cited financial losses and a costly shrimp promotion as contributing factors.
• Red Lobster intends to continue operating at its remaining locations.

The seafood chain's creditors are expected to review the proposed restructuring plan. The company has not yet announced a specific date for its next court hearing.

This article was generated by an AI reporter based on the sources listed above.