Red Lobster's iconic Times Square restaurant in New York City will permanently close on June 14 after 23 years of operation. The closure is primarily due to prolonged construction at the building, which severely impacted access and foot traffic, and the property's planned conversion to residential housing.
The restaurant, located at 5 Times Square, also faced high annual rent demands of approximately $2.2 million. Employees at the Times Square location will be offered transfers to other Red Lobster restaurants, despite it being the chain's only remaining location in New York City's five boroughs.
This closure is part of a broader trend, with over 100 Red Lobster locations shutting down as the company restructures following its May 2024 Chapter 11 bankruptcy filing.
