Red Lobster closing Times Square location after 23 – Business News
Red Lobster is looking it quits in NYC.
The seafood chain will completely close its flagship restaurant in Times Square on June 14, ending a 23-year run in a single of the world’s busiest vacationer locations, WABC reported on Friday.
Red Lobster officers stated years of construction on the restaurant’s handle — 5 Times Square — on the nook of forty first Street and Seventh Avenue have saved clients away and turned the once-bustling location into one it may no longer afford to operate.
Red Lobster’s Times Square flagship will close on June 14 after 23 years in business. Angel Chevrestt
“Times Square has been an important chapter in Red Lobster’s history, and this was a difficult decision,” Red Lobster stated in a assertion. “Extensive and extended construction on the building has considerably impacted entry, visibility, and foot visitors at this restaurant.
“Given those conditions, along with the building’s planned conversion to residential use, continuing to operate at this location was no longer viable.”
All workers on the Times Square location shall be provided transfers to different Red Lobster eating places and extra pay to help with the transition.
“We are grateful to the team members and guests who have made this restaurant special over the years,” the assertion continued.
“All team members are being offered the opportunity to be transferred to the Red Lobster location of their choice and to receive additional pay to support them through this transition.”
The seafood chain blamed ongoing construction round 5 Times Square for hurting visitors and entry. Angel Chevrestt
The closure marks the top of Red Lobster’s solely NYC location.
Since opening in 2003, the sprawling restaurant occupied a prime nook of Times Square, serving vacationers, workplace employees and theatergoers whereas appearing as a showcase location for the national chain.
The restaurant additionally grew to become identified for splashy promotions, together with a one-day free lobster giveaway in 2023.
More than 100 Red Lobster areas have closed lately because the company works to cut prices. Red Lobster
In 2024, the Post reported that the house owners of 5 Times Square requested for an annual rent of $2.2 million because the three-level, 16,482 square-foot space scrambled to stay open.
Employees had been beforehand instructed that the eatery wasn’t on the chopping block, describing the location as a (*23*)
The shutdown comes as Red Lobster continues to get well from its Chapter 11 chapter submitting in May 2024.
The Times Square closure marks the top of Red Lobster’s solely NYC location. Robert Mecea
More than 100 areas have closed lately because the company works to cut prices. The Times Square restaurant was already on a listing of areas the company warned might be at risk during the chapter course of.
Since rising from Chapter 11, Red Lobster has stated more underperforming eating places may nonetheless face closure.
The Orlando-based chain ended 2025 with more than 500 eating places nationwide and $1.56 billion in gross sales, down 6.2% from the earlier 12 months, in response to Restaurant Business citing Technomic knowledge.
Just final week, Red Lobster confirmed that its oldest constantly working restaurant, in Tallahassee, Fla., closed on Sunday, May 24 after 56 years in business.
