A Popular Restaurant Now Makes Unexpected Closures in Florida

A popular restaurant now makes unexpected closure in Florida and is reportedly considering filing for Chapter 11 bankruptcy.

Red Lobster, the restaurant chain that was founded in Florida, abruptly closed over 80 restaurant locations overnight, impacting approximately 6,500 employees.

The closures were announced on Monday, May 13th, with the affected restaurants listed as “temporarily closed”.

In addition, a restaurant liquidation company has listed 48 Red Lobster locations up for auction.

The following five Red Lobster restaurants in the state will be included in the liquidation auctions run by TAGeX Brands:

  • 340 West State Road 436 in Altamonte Springs
  • 6910 West Newberry Road in Gainesville
  • 1750 West 49th Street in Hialeah
  • 10500 East Ulmerton Road in Largo
  • 8003 Golden Sky Lane in Orlando

“These auctions are WINNER TAKES ALL.

The winner will receive the ENTIRE contents of the Red Lobster location they bid on,” the company’s website stated.

This means everything from furniture and decor to kitchen equipment and supplies could be up for grabs to the highest bidder when the auctions wrap up on May 16th.

It’s an ominous sign for a once-thriving chain that has fallen on hard times.

While Red Lobster has not officially confirmed bankruptcy plans, being forced to liquidate assets and shutter locations so abruptly is typically seen as a last-ditch effort to stay afloat financially.

Industry experts have described Red Lobster as a “struggling company” for some time.

The closures have left over 6,500 employees under challenging conditions, raising concerns about the impact on local communities where Red Lobster was an economic contributor.

As the chain’s future remains clouded, all eyes are on whether a Chapter 11 restructuring and reorganization is imminent.

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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois

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Market News Today - A Popular Restaurant Now Makes Unexpected Closures in Florida.
Market News Today – A Popular Restaurant Now Makes Unexpected Closures in Florida.

Another massive retailer is now closing due to crime despite its location being a community staple for several years.

Rampant theft has led Walgreens to permanently close one of its major locations at the White Oak Shopping Center in Maryland, reports The-Sun.

Staff and shoppers told ABC affiliate WJLA-TV that the store was closed due to high rates of theft and crime.

Mobile security cameras were recently added by police in the parking lot around stores in the shopping center.

A source also told WJLA-TV that the shopping center’s management company had to fire their security company and hire a new one.

Just last year, there was an armed robbery inside Walgreens, resulting in a man and a woman taking an unknown amount of money and products.

Robberies have become a major problem in the area as stores get ransacked by violent thieves.

A resident told the outlet she was too scared to leave her car in the shopping center’s parking lot.

She says she saw another woman get assaulted and robbed.

“You can simply be walking and they take your purse and start running and they leave you with nothing,” said Sarah Rodriguez.

“That’s why when I’m here before I get out of my car I always look around first.”

Walgreens corporate execs announced earlier this year that about 150 stores will be closed throughout the US.

This would reduce the company’s corporate staff by about 10%, resulting in over 500 positions being eliminated.

News of a replacement for the store in the White Oak Shopping Center hasn’t been announced.

However, the center has been struggling to replace the Sears location that has sat vacant for over three years.

“Yeah, it’s not good, because everyone is complaining,” said resident Kokou Eafbo.

“This is the only pharmacy we have in this area and suddenly they close, we don’t understand.”

The shopping center had once been a thriving area full of shops in Montgomery County, reports The US Sun.

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Also Read: Retirees Will Now Receive More Money For Social Security

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Market News Today - A Popular Restaurant Now Makes Unexpected Closures in Florida.
Market News Today – A Popular Restaurant Now Makes Unexpected Closures in Florida.

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