Red Lobster Closing Locations: South Carolina’s Myrtle Beach Among Them

Red Lobster Closing Locations: South Carolina’s Myrtle Beach Among Them

An unfortunate announcement for seafood fans in South Carolina: The popular dining chain, Red Lobster, has suddenly shuttered the doors on 87 of its restaurants temporarily, in 27 different states. The closures took place in the week of May 13. As well as the temporary shutdowns, 48 of these locations have entered pilings into a liquidation auction, casting a sombre shadow over the possibility of future reopening.

Of particular interest to patrons in the Palmetto State, is the news that one of its popular locations is amongst the temporary shutdowns.

South Carolina’s Temporary Closure

Myrtle Beach, one of only 11 Red Lobster locations across South Carolina, finds itself amongst the unfortunate restaurants facing an uncertain future, with its kitchen equipment currently being auctioned off online. The name of the beach town is synonymous with fresh shellfish and vibrant summer evenings – a fitting location for an establishment serving up endless shrimp.

Other Red Lobster locations in South Carolina

While Myrtle Beach’s establishment may be down for the count, other Red Lobster locations across South Carolina are currently operating under their normal hours, including Anderson, Greenville, Spartanburg, Aiken, Cayce, Columbia, Florence, Greenwood, North Charleston, and Sumter. The situation, however, remains fluid, operating in an atmosphere of uncertainty.

The Journey to Bankruptcy

In April, Red Lobster weighed an option of filing for Chapter 11 bankruptcy in order to restructure its debts, an enterprise challenge that the company disclosed openly to its stakeholders. Bloomberg reported that labor costs and lease liabilities had caused a significant disruption within Red Lobster’s cash flow. However, it was an unexpectedly popular promotional deal that tipped the chain’s finances into the red.

The Ultimate Endless Shrimp deal was a hit amongst customers in 2023. Unfortunately, the higher-than-projected uptake resulted in an $11 million loss in the third quarter. This promotional offer, which cost guests $20 in return for unlimited servings of two types of shrimp, was expanded to a permanent menu item as of June, but patrons are now expected to part with $25 for the privilege.

Such unfortunate events caused Red Lobster’s parent company, the Thai Union Group, to predict $20 million losses for the chain in 2023.

Where Next?

While Myrtle Beach bids farewell to its Red Lobster location, questions remain on how the brand will navigate these turbulent waters. The 87 locations listed as temporarily closed, spanning across from Alabama to Wisconsin, points to a sea change in Red Lobster’s fortune. Only time will tell how the chain will rise once again from the turbulent tides of these trying times.


Author: HERE Lexington

HERE Lexington

Recent Posts

Charges Against South Carolina Forward Ashlyn Watkins Dismissed Amid Legal Proceedings

Charges Dismissed Against South Carolina Forward Ashlyn Watkins Columbia, S.C. - Suspended South Carolina forward…

10 hours ago

Columbia Woman Surprised by Large Snake in Bathroom

Columbia Woman Encounters Snake in Bathroom Columbia, South Carolina – In a surprising incident early…

10 hours ago

Execution of Inmate Richard Moore Marks South Carolina’s First Execution in 13 Years Amid Racial Controversy

Spartanburg, South Carolina Richard Moore, a 59-year-old inmate, was executed on Friday evening in South…

10 hours ago

Columbia Prepares for the 49th Annual Craftsmen’s Christmas Classic Art & Craft Festival This Weekend

Columbia Gets Ready for the 49th Annual Craftsmen’s Christmas Classic Art & Craft Festival It's…

11 hours ago

Columbia’s Arts & Draughts Set to Dazzle with Art, Music, and Culinary Delights This Friday

Columbia Gears Up for a Spectacular Night of Art and Fun! Hey there, Columbia! Get…

11 hours ago