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Red Lobster underwater: Beloved restaurant chain closes 48 locations amid uncertain financial future

NPR

Published May 14, 2024 at 8:33 AM CDT

A sign is posted on the exterior of a Red Lobster restaurant on April 17, 2024 in Rohnert Park, California. Red Lobster is considering filing for Chapter 11 bankruptcy to address rising labor costs and in hopes of renegotiating property leases and long-term contracts. (Justin Sullivan/Getty Images)

For decades, Red Lobster has held a special place in Americans’ hearts and dinner plans. But now the chain is in some murky financial waters.

Facing financial pressure, Red Lobster announced this week that it is shutting down nearly 50 locations across the country.

We hear from Roben Farzad, host of public radio’s “Full Disclosure.”

This article was originally published on WBUR.org.