Crimson Lobster has filed for Chapter 11 chapter in Florida, the corporate mentioned in an announcement Sunday evening.
Chapter 11 chapter is sometimes called “reorganization chapter” and sometimes permits a enterprise to remain open whereas it reorganizes funds to repay present debt over time.
![The street signage for the now closed Baymeadows Road Red Lobster restaurant. Red Lobster employees arrived at the 7820 Baymeadows Road location Tuesday morning, May 14, 2024 to help clean out the restaurant, one of three Red Lobster locations that were abruptly closed Monday. [Bob Self/Florida Times-Union]](https://i0.wp.com/www.recentlyheard.com/wp-content/uploads/2024/05/1716308344_651_Red-Lobster-closing-list-2024-in-Texas-as-company-files.jpg?w=900&ssl=1)
Crimson Lobster public sale?
TAGeX Manufacturers, an organization that helps companies with closures and liquidations, introduced on its web site that it will be auctioning off gear from areas in Texas, together with Lake Jackson, Longview and San Antonio.
Who owns Crimson Lobster eating places?
Golden Gate Capital took over Orlando, Florida-based Crimson Lobster from Darden Eating places by means of a leveraged buyout in 2014. Thai Union owned 25% of the chain earlier than shopping for Golden Gate’s stake in 2020, in response to a report from Yahoo Finance.
Which Crimson Lobster areas are closed?
Every of those eating places are at present listed as briefly closed on the web site:
USA At the moment Community contributed to this report.