Which well-known retail stores have filed for bankruptcy?
Red Lobster, Walgreens, Rite Aid and many other retailers are struggling with deteriorating financial conditions.
As USA TODAY reports, Red Lobster is closing 23 more restaurants across the country – including one in Ohio – as part of its ongoing Chapter 11 bankruptcy proceedings.
In a 23-page court document filed Aug. 22 in U.S. Bankruptcy Court for the Middle District of Florida, Orlando-based Red Lobster said it was rejecting leases for 23 locations, including closing three restaurants in Florida, Illinois and Virginia, two in Minnesota and New York, and one each in the following states: Arizona, California, Colorado, Georgia, Indiana, Missouri, North Carolina, Ohio and South Carolina.
Here is the latest information.
Which Red Lobster is closing in Ohio?
According to USA TODAY, the Red Lobster location in Strongsville, a suburb of Cleveland, will close by August 31. It is the first Red Lobster location in the state to be affected by the bankruptcy.
How many Red Lobsters are there in Ohio?
According to a Cincinnati Enquirer article, Red Lobster operated 38 restaurants in 33 Ohio cities, and every location in the state was listed as “open” at the time. There are now 37.
Why did Red Lobster file for bankruptcy?
Red Lobster filed for bankruptcy on May 19 after closing dozens of locations and announcing plans to “drive operational improvements” by simplifying the business, according to USA TODAY. Court documents show the bankruptcy was primarily due to significant debt, a carousel of CEOs, an all-you-can-eat shrimp fiasco and a 30% drop in guests since 2019.
Red Lobster closures across the country
According to court documents, Red Lobster has a list of 228 rejected leases that would result in further losses if it continued to operate as normal, USA TODAY reports. Some of them have already been closed, meaning the company could lose 129 restaurants.
This total is correct because last week’s court filing already showed that 23 locations had already been closed, after 106 restaurants had already closed their doors over the summer.
List of previous Red Lobster closures
USA TODAY has a list of the last 106 Red Lobster closures, organized by state:
Alabama | Arizona | California | Colorado | Florida | Georgia | Idaho | Illinois | Indiana | Iowa | Kansas | Louisiana | Maryland | Michigan | Mississippi | Missouri | New Jersey | New York | North Carolina | North Dakota | Oklahoma | Pennsylvania | South Carolina | Tennessee | Texas | Virginia | Washington | Wisconsin
