9 things to know about Red Lobster

ORLANDO, Fla. — Red Lobster filed for Chapter 11 bankruptcy earlier this week after closing dozens of restaurants earlier in the month.

Here are nine things to know about the largest seafood chain in the world:

Bill Darden and Charley Woodsby opened the first location in Lakeland in 1968.
General Mills acquired Red Lobster in 1970, and the chain rapidly expanded during the 1980s.
In 1992, the company introduced its iconic Cheddar Bay Biscuits, which are freshly baked at its restaurants every 15 minutes. The biscuit mix is even sold by grocers nationwide.
Darden Restaurants sold Red Lobster in 2014 for $2.1 billion, and it became an independent company.
The restaurant chain had more than $1 billion in debt
Red Lobster has more than 100,000 creditors, and it has plans to sell the business to its lenders
The chain has 650 locations across the country.
In the third quarter of 2023, the seafood chain reported a loss of more than $11 million
The cost of the Ultimate Endless Shrimp deal ultimately was a key factor for the company’s loss despite the 4% growth in traffic.

Red Lobster released a letter to its customers Tuesday morning on its Facebook page:

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