Right Lobster Close Down in San Antonio, Auctioning Equipment
Red Lobster Shutting Down Locations Across U.S
Red Lobster, a staple American seafood restaurant, is enduring the pressure of a financial tide, with a horde of outlets closing across the states. Among these is the South Side location in San Antonio, signaling a retreat from critical urban markets like Denver, Indianapolis, and Sacramento.
TAGeX Brands In Charge of Equipment Auction
Renowned restaurant liquidator, TAGeX Brands, declared that it is taking care of the auctioning process for the equipment unexpectedly left idle at this South Side venue. The upcoming equipment auction also extends to more than 50 other minimised Red Lobster spots.
South Side Venue Auction Details
The South Side eatery, located at 7835 Interstate 35 South, near Zarzamora Street and South Park Mall, now hosts an active auction. In a “Winner Takes All” approach, the highest bidder will acquire all the restaurant’s contents – from the top of the line apparatus, bar and seating configurations, to furniture.
The auction rocketed with a starting bid of $15,000 and is set to wrap up by 11:30 a.m. on Thursday. Winners must be ready for a swift transition, as the pickup of items is fixed for Friday.
A Look at Other Texas Red Lobster Shuttered Locations
Aside from the San Antonio outlet, Red Lobster closures hit other Texas cities. The well-loved seafood chains in Lake Jackson and Longview have also ceased operations.
An Overview of the Red Lobster Struggle
Over the years, Red Lobster has grappled with rising lease and manpower costs. The renowned seafood restaurant is in crucial talks and is pondering over filing for bankruptcy. Notably, Red Lobster’s problems are a microcosm of larger issues plaguing the restaurant industry, including higher labor and real estate expenses. The persistent struggles could precipitate other closures.
Other Red Lobster Closures
Among the states affected, Red Lobster is closing operations in several locations across Alabama, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Maryland, Michigan, Mississippi, New York, New Jersey, North Dakota, Oklahoma, South Carolina, Virginia, Washington., and Wisconsin.
These closures are a sign of challenging times ahead for the beloved seafood restaurant chain. As the company trims its footprint across the nation, many are left asking what’s next for Red Lobster.
