The bad news that many have been expecting officially came down this week.

Just a few months ago, I shared the news that Red Lobster's disastrous Unlimited Shrimp promotion in 2023 resulted in an 11 million dollar loss.

Red Lobster has officially announced they are going bankrupt.

The company filed for Chapter 11 in Florida on Sunday and announced a few days later that it would be closing restaurants across the United States.

Selfishly, my initial thought was, "No, not my Cheddar Bay Biscuits!"

Red Lobster Drops Cheddar Bay Biscuits Bomb, No More 'Unlimited'
RedLobster.com
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The belief has to be that closing these restaurants in select cities and states across America will allow the company to recoup some of its losses, allowing the majority of locations to remain open.

The other thought is that this is just the beginning of what could be the end of the once enormously popular seafood chain.

It's hard to imagine Red Lobster coming out on the other side of this better than before they entered Chapter 11.

That doesn't mean Red Lobster can't turn it around.

Here are two others that entered Chapter 11 bankruptcy and managed to survive:

  • Domino's Pizza in 2009
  • Dunkin Brands in 2014
Dunkin' Donuts To Challenge Starbucks For Coffee Supremacy
Getty Images
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Both Domino's and Dunkin made major comebacks and now seem to have a bright future.

Can the same happen for Red Lobster? It is too early to tell, but I can tell you it will be without these two Wisconsin restaurants:

  • Red Lobster at 3333 State Road 16, LaCrosse
  • Red Lobster at 2801 North Mayfair Road in Wauwatosa
Red Lobster Files For Bankruptcy Protection
Photo by Brandon Bell/Getty Images
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These two Wisconsin restaurants join the previously announced Illinois closures in Bloomingdale and Danville.

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