5 Things You Need to Know About the Red Lobster Times Square Closure
- The iconic Red Lobster in Times Square shut its doors permanently after 20 years, marking a major loss for tourists craving Cheddar Bay Biscuits mid-theater district visit.
- This closure is part of a massive wave of over 50 restaurant shutdowns nationwide, as Red Lobster grapples with severe financial turmoil and a Chapter 11 bankruptcy filing.
- The location was notoriously expensive to operate, with rent reportedly over $500,000 a month—a staggering cost that made it impossible to stay afloat even with high foot traffic.
- Fans suspect the controversial 'Endless Shrimp' promotion in 2023 played a role, as it drove massive losses across the chain, including this flagship spot.
- Local business owners in Times Square worry this could signal a shift, with more casual dining giants struggling to compete against high rents and changing food trends in New York City.