It has been widely reported that Red Lobster, the chain known for its Cheddar Bay Biscuits and endless shrimp, has been struggling as of late.

Did Red Lobster File for Bankruptcy?

Back in April, we reported that Red Lobster might file for bankruptcy, and now it is confirmed that they have.

What Does Bankruptcy Mean for Red Lobster Locations?

USA Today reported last week that Red Lobster's website listed 87 stores as "temporarily closed" across 27 states, with some of them having their kitchen equipment up for auction on an online restaurant liquidator.

According to Bloomberg.com, the restaurant is eyeing overall losses of around $20 million.

Just when you thought it was the absolute end of Red Lobster, the chain issued the following open letter to its customers via its Facebook page.

What Did Red Lobster Say About Filing for Bankruptcy?

You may be aware that Red Lobster filed for Chapter 11 bankruptcy protection. We’d like to take a moment to explain what this means for our company, and for you, our valued guests. For more than five decades Red Lobster has been a part of your family’s life.

We’ve been there for your celebrations, big and small. We may be the place that you first discovered your love of seafood. Or where you met the love of your life on a first date. Birthdays, graduations, anniversaries and yes, weddings. We’ve been here for them all. And Red Lobster is determined to be there for these moments for generations to come. And that’s why we filed for Chapter 11 bankruptcy protection.

Bankruptcy is a word that is often misunderstood. Filing for bankruptcy does not mean we are going out of business. In fact, it means just the opposite. It is a legal process that allows us to make changes to our business and our cost structure so that Red Lobster can continue as a stronger company going forward. As many of you know, we recently made the tough decision to close a number of our restaurants.

The truth is, some of the world’s most beloved brands like Delta and Hertz have used this same process to protect their futures and their customers stood with them and rooted them on. And because of that, they emerged stronger.

Together, we have a lot worth rooting for. We’ve made delicious, high-quality seafood accessible for generations. Many of you tried lobster for the first time at our restaurant. We’ve brought you Lobsterfest and Crabfest over the years.

And, of course, no meal is complete without Cheddar Bay Biscuits. We are here and ready to continue making memories with you.

Join us. Dine with us. Root for us. Together, we can write a new chapter.

It sounds like if Red Lobster had a relationship status, it would say, "It's Complicated." Only time will tell if you will be able to order Cheddar Bay Biscuits, or you will have to try to make them yourself at home.

Evan Paul is the host of Taste of Country Nights, a syndicated radio show heard on more than 130 country radio stations nationwide, every night from 7PM to midnight. He plays the best new country music and interviews today's top stars, like Luke Combs, Morgan Wallen, Kenny Chesney, Miranda Lambert, Dan + Shay, Keith Urban, Carrie Underwood, Luke Bryan, Chris Stapleton, Lady A, + more! 

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