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Red Lobster, the popular seafood restaurant chain, has filed for voluntary Chapter 11 bankruptcy. The decision marks a significant turn for the company, which was founded in 1968 and had nearly 700 locations nationwide as of 2019. However, Red Lobster has faced substantial financial difficulties in recent years, exacerbated by the COVID-19 pandemic.
Red Lobster announces that despite the bankruptcy filing, the restaurants that remain open will continue operations during the bankruptcy process. However, in the lead-up to this filing, the company closed several locations, including those in. . .
