Red Lobster was a restaurant industry pioneer, but has declined in recent years due to a range of factors.
Struggling Red Lobster is abruptly closing at least 48 of its restaurants around the country, according to a leading restaurant liquidator.
Red Lobster locations in Buffalo, Orlando, Jacksonville and other cities were listed as "temporarily closed" on Red Lobster's website, according to local news reports.Red Lobster is reportedly considering filing for bankruptcy protection. The chain has tapped a restructuring expert as its chief executive, a possible indicator of an impending bankruptcy.
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