Red Lobster Faces Potential Closure of 129 More Locations

The seafood chain's bankruptcy filing reveals plans to shut down additional restaurants as it struggles with financial woes.

Red Lobster has already closed 99 locations across 28 states in May.
The chain has identified 228 leases it plans to reject, putting 129 more locations at risk.
High debt, reduced customer traffic, and failed promotions have exacerbated financial challenges.
The company aims to renegotiate leases to avoid further closures and stabilize its operations.
Iconic locations, including the Times Square restaurant, are among those potentially closing.