- Red Lobster's oldest restaurant, located in Tallahassee, Florida, is set to permanently close on Sunday, May 24, after 56 years of business.
- The closure is part of Red Lobster's strategy following its Chapter 11 bankruptcy filing in May 2024, which saw the company close over 100 restaurants across the US.
- Red Lobster emerged from bankruptcy in September 2024 after being acquired by RL Investor Holdings LLC and receiving approximately $70 million in new investment.
- Under CEO Damola Adamolekun, the company has implemented a revival plan, including reviewing restaurant leases, closing underperforming sites, overhauling its menu, and refreshing its marketing strategy.
- The chain recently brought back its popular all-you-can-eat Endless Shrimp promotion, which had reportedly caused Red Lobster to lose about $11 million in 2023.
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