Red Lobster is closing nearly 50 locations, liquidator says
CBSN
Red Lobster is quickly closing at least 48 of its restaurants across 21 states, according to a company that helps companies liquidate restaurant equipment.
Neal Sherman, the CEO of TAGeX Brands, said in a LinkedIn post Monday that his company is helping Red Lobster. The equipment is being auctioned off and the auction ends on Thursday, Sherman said.
The store closures come as many Wall Street analyst suspect the restaurant will declare bankruptcy in coming weeks.
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