WikiMedia Commons / Anthony22
Red Lobster is closing at least 99 locations across the U.S.
On its website, Orlando-based Red Lobster now lists its location at 7835 Interstate 35 South in Southwest San Antonio as closed, and the store's entire equipment inventory is now posted for auction.
The chain closed roughly 87 restaurants Monday as it grapples with cash-flow issues, Nation's Restaurant News reports. The business had 649 restaurants as of the end last year, according to the news site.
In a Monday LinkedIn post, Neal Sherman — CEO of liquidation firm TAGeX Brands — announced he's leading the closure of more than 50 Red Lobster locations and arranging to auction off their gear.
Major items up for bid at the San Antonio store include high-performance ovens, upright refrigerators and freezers along with bar and dining room necessities, according to the online listing. Perishable items and booze aren't included in the sale.
Earlier this year, 55-year-old Red Lobster's largest investor, Thai Union, announced it was looking to sell off its stake in the chain, NBC reports. Last month, CNBC reported that Red Lobster was shopping for a buyer in hopes of avoiding a bankruptcy filing. So far, no takers have swooped in to save the day.
Subscribe to SA Current newsletters.
Follow us: Apple News | Google News | NewsBreak | Reddit | Instagram | Facebook | Twitter| Or sign up for our RSS Feed
