Red Lobster proposes closing dozens of restaurants across U.S., including 7 in Ohio [Video]

American restaurant chain Red Lobster has proposed closing dozens of its restaurant locations across the U.S., including Ohio, after filing for Chapter 11 bankruptcy in May, according to court filings.

Red Lobster, which operates about 570 restaurants and has about 36,000 employees in the U.S. and Canada, proposed its new list of locations to close just weeks after shuttering 48 restaurants across 21 states. The Orlando, Florida-based company reported assets totaling between $1 billion and $10 billion, as well as estimated liabilities of $1 billion to $10 billion, according to the bankruptcy filing.

Furthermore, Red Lobster posted an operating loss of more than $11 million in the third quarter of 2023, according to Restaurant Business. The loss was largely due to Red Lobster’s “Ultimate Endless Shrimp” promotion in summer 2023, which made its $20 “endless shrimp” offering a permanent fixture on its menu, rather than its usual limited-time offer.

“We knew the price was cheap, but …