NORTH TEXAS (WBAP/KLIF News ) – Dozens of Red Lobster locations closed their doors nationwide on Monday, including two in Dallas.
According to a liquidation firm, items from more than 50 Red Lobster locations in at least 27 states are being auctioned off.
In a LinkedIn post on Monday, TAGeX Brands Founder and CEO Neal Sherman said his company has more than 50 auctions live connected to the closures.
They’re selling furniture, fixtures and equipment from each location.
Last month, it was widely reported the seafood chain was rumored to be considering filing for Chapter 11 bankruptcy protection and was looking for a buyer to avoid doing so.
Red Lobster has been plagued with financial woes and inner turmoil for years. CNN reports a decision to revive their endless shrimp menu deal led to an $11 million loss last year.
Newsweek reported that the company went through four CEOs in the last three years.
Other Texas locations that are closing are in Tyler, Longview, Pasadena, Lake Jackson and Lufkin.
Red Lobster has about 700 locations worldwide.
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