**FOR IMMEDIATE RELEASE**

FOR IMMEDIATE RELEASE

TALLAHASSEE, FL – December 12, 2023 — Red Lobster Management LLC has confirmed the permanent closure of its Tallahassee location, effective immediately.

WHAT: The Red Lobster seafood restaurant, located at 2136 NW Monroe Street, has shuttered its operations. All employees at this facility have been terminated and are not eligible for transfer to other regional stores.

WHO: The company attributes the closure to a failure to reach a new lease agreement with the property owner. Red Lobster Management LLC Corporate Communications issued the official statement, which did not provide further comment on the status of the 45 affected staff members.

WHERE: The restaurant is situated at the intersection of Monroe Street and Tharpe Street, a major commercial corridor within the City of Tallahassee, Leon County.

WHEN: Operations ceased on Monday, December 11, 2023. The location had been operating under a month-to-month lease for the preceding 12 months.

WHY: Company officials cited “escalating operational costs” and “sustained underperformance” relative to market expectations as the primary drivers for the decision, exacerbated by an inability to renegotiate terms with the landlord.

ADDITIONAL CONTEXT: This closure reduces the number of Red Lobster locations in the Florida Panhandle to two, both situated in Panama City. Area economists note that this marks the third national chain restaurant to vacate this specific Monroe Street strip mall within the current fiscal year.

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