UPDATE 5/20/24: According to a release from Red Lobster, the company has filed for Chapter 11 bankruptcy. The seafood chain says it intends to use the proceedings to "drive operational improvements... [and] simplify the business through a reduction in locations."

Red Lobster is also continuing to seek a buyer. The company says it  has entered into something called a "stalking horse agreement" with its existing lenders to buy the company, unless a higher bid comes along.

ORIGINAL STORY 5/14/ 24. 

It seems like every day we are hearing about more stores and restaurants permanently closing. I'll be really sad to see Red Lobster go away, as it's a favorite dining spot for my family!

Red Lobster Mulls Possible Bankruptcy Filing Amid Debt And Rising Labor Costs
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Red Lobster Considers Bankruptcy, Closes 40+ Restaurants in U.S.

According to a company that liquidates restaurant equipment, Red Lobster is closing 48 restaurants across 21 states. WFMZ reports the number of Red Lobster restaurants closing could be as high as 80.

READ MORE: Are There Any Boston Market Restaurants Left in Michigan?

TAGeX Brands says the auctions are winner take all, with each winner getting the entire contents of the Red Lobster restaurant they bid on. The auctions will end Thursday, May 16, 2024.

The news comes after Bloomberg reported that Red Lobster was considering filing for Chapter 11 bankruptcy. The chain says it lost $11 million loss last year after making the "Unlimited Shrimp Deal” a permanent menu option instead of a limited-time promotion.

Red Lobster, Facebook
Red Lobster, Facebook
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Are Red Lobsters in Michigan Closing?

According to the auction site, the states with the most Red Lobsters Closing are Florida and California.

There does appear to be one Michigan location shutting down and included in the TAGeX auction - 4220 24th Ave in Fort Gratiot. Google lists the Ft. Gratiot location as temporarily closed. The restaurant remains on the company's website, however all hours are listed as "closed". The site currently lists 27 Red Lobster locations in Michigan.

READ MORE: These are Michigan's Best BBQ Joints

Two Indiana and two Illinois Red Lobsters also appear to be closing, based on the online auctions.

Popular Chain Restaurants Michigan Needs Across The State

It's a crime these chain restaurants aren't in Michigan.

Gallery Credit: Jacob Harrison