Some in Manhattan have long clamored for a Red Lobster restaurant, but that prospect looks even dimmer now that the chain has abruptly closed dozens of stores across the country, including three of its Kansas stores due to financial struggles.
CNN reports that the company is liquidating restaurant inventory from restaurants including kitchen equipment, furniture, tables and chairs. The auction is being conducted through Thursday by TAGeX Brands, a leading restaurant liquidator. Red Lobster is reportedly considering filing for bankruptcy protection after declines in recent years due to a variety of factors, with some experts citing corporate mismanagement. Last fall, it was noted the company lost nearly $11 million in the third quarter of 2023.
Red Lobster has closed locations in Kansas City, Olathe and Salina, while stores in Topeka, Overland Park and Wichita remain open.
