Red Lobster turmoil: What to know

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Red Lobster: The seafood restaurant chain is mulling a Chapter 11 bankruptcy, according to a published report. (Justin Sullivan/Getty Images )

By Sarah Kinbar and WFTV.com News Staff

April 30, 2024 at 2:16 pm EDT

ORLANDO, Fla. — Editor's note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.

Orlando-based Red Lobster Hospitality LLC — once a Darden restaurant and founded in Lakeland in 1968 by Bill Darden — is in financial trouble.

The company has made headlines for months:

in June, when it turned Ultimate Endless Shrimp from a limited-time offer into a permanent fixture on its menu
in November, when the company revealed it lost $11 million on the menu item
in January, when Thai Union Group, its largest shareholder, announced it would divest itself of all shares in the chain
and in March, when Red Lobster brought in a new CEO

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Click here to read the full story on the Orlando Business Journal's website.

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