Red Lobster turmoil: What to know

ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.

Orlando-based Red Lobster Hospitality LLC — once a Darden restaurant and founded in Lakeland in 1968 by Bill Darden — is in financial trouble.

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The company has made headlines for months:

• in June, when it turned Ultimate Endless Shrimp from a limited-time offer into a permanent fixture on its menu
• in November, when the company revealed it lost $11 million on the menu item
• in January, when Thai Union Group, its largest shareholder, announced it would divest itself of all shares in the chain
• and in March, when Red Lobster brought in a new CEO

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