Could This Food Chain in Idaho Be Going Out of Business?

Businesses filing for bankruptcy and going out of business seem to be common news these days. It seems that every week or month another once-successful company is declaring bankruptcy or that they are closing stores. Sadly, it is happening to so many stores, but it is an effect of online shopping, lack of going out to eat, and the pandemic from a few years ago. While all places closing sting a bit, it stings more when it is a restaurant chain. One major food chain is looking to file for bankruptcy, but what does it mean for the Idaho locations, and is the company going out of business? 

Is Red Lobster Filing for Bankruptcy?

Idaho has some amazing places to eat, but one of the things that is lacking is great seafood restaurants. There are good ones in the Gem State, but not as many as most would prefer. Red Lobster is one of the options in the state, with two locations in Idaho, but could they soon be closing? The well-known and liked seafood chain is looking at filing bankruptcy soon, and it has many customers fearful of what this means moving forward. Could the two locations in Idaho be closing, and could the chain be going out of business? Before freaking out, it is important to note that they have not officially filed yet, but it is leaning that way. 

Is Red Lobster Going Out of Business?

If Red Lobster files for bankruptcy, it does not mean they are going out of business. The hope is to do what other companies have done and keep all locations open while making some adjustments. Red Lobster saw a loss of $11 Million at one point last year, which is one of the major factors leading to the possibility of filing for bankruptcy. To add to the bad news, earlier this year they saw some of their biggest investors pull out of the company. The hope is that with only two stores in the state if the company does have to close locations, the ones in Idaho will be spared. For more on the possibilities of Red Lobster going bankrupt, click the link above. 

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Not many want to live in a world without Cheddar Bay Biscuits or Ultimate Endless Shrimp Deals. The hope is that the company will be able to get back on its feet and continue making delicious seafood and biscuits. If the company does go under, where would you go for seafood in Idaho? We will keep you updated as updates come in and if any news changes on Red Lobster.