If you’re a fan of their famous biscuits, the good news is there are dozens of copycat recipes across the internet. You may want to bookmark those just in case things get even worse for the famous seafood chain restaurant. 

Back in April, Bloomberg published an article suggesting that Red Lobster is considering filing for Chapter 11 bankruptcy to restructure its debt. Going through the bankruptcy process would also give them the opportunity to get out of expensive leases at underperforming locations.

READ MORE: 21 Boise Area Businesses That Have Already Closed for Good in 2024

In order to reduce their debt, Red Lobster had what seemed like a solid idea to get more foot traffic into their restaurants. Rather than offer “Endless Shrimp” for a limited time, the deal was added to the regular menu during early Summer 2023. The offer did increase the number of people visiting the casual seafood chain, but they weren’t ordering more items like apps, drinks and desserts. At $20 a plate, the restaurant wasn’t making money. It was losing money. A lot of money. Food & Wine reports that they lost more than $11 million in Q3 2023. 

Red Lobster Surprises Fans By Abruptly Closing 50 Locations

Red Lobster still hasn’t filed for Chapter 11 bankruptcy, but it looks like they’re ready to start cutting their losses. On Monday, TageX announced that they are hosting “winner take all” auctions of 50 Red Lobster locations that recently closed in 21 states. That means that if you win the auction, you get everything that was inside the restaurant. You also get it quickly. Winners are expected to claim their winnings at the defunct locations on Friday, May 17. The auctions are as easy to bid in as one you'd find on eBay.

Getty Images/Canva
Getty Images/Canva
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Seven locations in Idaho, Washington State and California are included in the auction. Here’s a look at the restaurants that will no longer be serving up Cheddar Bay Biscuits, Endless Shrimp or anything on the Red Lobster Menu. 

These 7 Red Lobster Locations in Idaho, Washington and California Just Closed

The contents of these locations and 43 others are being auctioned off through TageX Brands.

Gallery Credit: Michelle Heart

Other Restaurant Chains Struggling in 2024

While many will point to the Endless Shrimp debacle as part of Red Lobster’s downfall, they’re not the only restaurant chain struggling in 2024. 

In February, Bloomin’ Brands abruptly shuttered 33 restaurants the day of their earnings call. During the call they announced they would close a total of 41 underperforming stores across their portfolio of brands which includes Outback Steakhouse, Bonefish Grill, Carrabba’s Italian Grill and Fleming’s Prime Steakhouse. One of those locations was in Boise, Idaho. The Bonefish Grill in Downtown Boise closed permanently in January. 

Outback Steakhouse Parent Bloomin' Brands Stock Dives Over Inflation Concerns
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Cracker Barrel, TGI Friday’s, Applebee’s and Denny’s have also closed underperforming locations in Idaho and California this year.

KEEP READING: 9 Big Brands That Are Closing California Stores in 2024

From stores to restaurants, these brands are closing the door at some of their California locations in 2024.

Gallery Credit: Michelle Heart

9 More Big Brands That Are Closing California Stores in 2024

From stores to restaurants, these are some more of the brands closing their doors at some of their California locations in 2024.

Gallery Credit: Michelle Heart

Businesses the Boise Area Lost in 2024

Each year we put together a running list of businesses that have closed in the Treasure Valley. This is the 2024 list. Did we miss one? Send us your tips HERE.

Gallery Credit: Michelle Heart

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