Red Lobster Shutters Bolingbrook Location One Year After Bankruptcy Exit
In a continued effort to streamline operations, seafood chain Red Lobster has officially closed its restaurant in Bolingbrook, Illinois. This move comes just over a year after the company successfully emerged from Chapter 11 bankruptcy protection.
The Bolingbrook eatery managed to escape closure during a significant reduction phase in early 2024, when Red Lobster shuttered more than 100 locations amidst financial challenges. Initial reports indicate the city location had remained operational despite the broader downsizing.
However, municipal records concerning liquor licenses now confirm that the Bolingbrook Red Lobster has been permanently closed, as reported by local news outlet Patch.
Company Statement and Future Plans
A spokesperson for Red Lobster commented to Undercurrent News: “As part of our normal course of business, we continuously monitor restaurant performance and may, from time to time, choose to close or relocate restaurants.” This statement highlights the chain’s ongoing strategy to evaluate the success of its locations.
Background on Recent Closures
In May 2024, Red Lobster, formerly part of seafood giant Thai Union, filed for Chapter 11 bankruptcy protection, closing over 100 locations in the process. The chain, which once boasted more than 640 restaurants, saw its locations dwindle to 544.
Following its exit from bankruptcy in September 2024, under new ownership led by Fortress Investment Group, the company announced plans to close an additional 23 locations. This decision was made after a thorough review of restaurant performance by a real estate advisor, focusing on the most underperforming sites.
Leadership Changes and Brand Strategy
Former P.F. Chang’s CEO Damola Adamolekun took the helm at Red Lobster after the company’s acquisition. In an interview with CNN, he suggested that further restaurant closures were unlikely, emphasizing a new focus on menu adjustments and staffing improvements, along with plans to revitalize the brand through fresh investments.
Conclusion
As Red Lobster continues to navigate the post-bankruptcy landscape, the closure of the Bolingbrook location marks another chapter in the chain’s efforts to stabilize and reposition itself in the competitive seafood restaurant market.
