Reported about 2 months ago
Red Lobster is set to shut down 23 additional restaurants as part of its ongoing bankruptcy proceedings, following the closure of over 100 locations earlier this summer. This closure will reduce the number of outlets to around 500 from 650 just a year ago. The seafood chain, now under Fortress Credit Corp.’s management, is responding to financial struggles attributed to mismanagement and market pressures.
Source: YAHOO