After bankruptcy, iconic seafood chain closes flagship restaurant

An iconic American seafood concatenation is preparing to adjacent a edifice successful 1 of the world's astir visited tourer districts. It marks the extremity of a 23-year tally astatine a salient municipality determination arsenic the institution continues navigating the aftermath of bankruptcy, rising operating costs, and a broader effort to reshape its business.

After astir six decades, the marque has built a loyal pursuing done affordable seafood, its iconic biscuits, and fashionable worth promotions that helped marque it a staple of casual eating crossed the country.

Now, its astir salient determination worldwide is acceptable to disappear, becoming the latest casualty of ongoing challenges crossed the edifice industry.

New York's Times Square has agelong been a showcase for large edifice brands seeking vulnerability to millions of yearly visitors. Yet adjacent 1 of the world's busiest commercialized districts has seen respective notable departures successful caller years, including Planet Hollywood and a flagship McDonald's location.

Now different recognizable concatenation is joining that list.

Red Lobster confirms closure of its last Manhattan edifice

Red Lobster has confirmed it volition adjacent its Times Square edifice astatine 582 7th Ave. successful New York City connected June 14, ending its beingness successful Manhattan aft much than 2 decades.

The three-story determination opened successful 2003 and became a acquainted destination for tourists seeking casual seafood eating successful the bosom of the city. Its closure means Red Lobster volition nary longer run a edifice wrong Manhattan.

According to the company's edifice locator, Red Lobster inactive has 16 locations crossed New York, though nary are successful Manhattan. The closest remaining edifice is successful Brooklyn, astir 9.3 miles away.

A institution spokesperson said the determination was mostly driven by extended and prolonged operation astir the property, which has importantly impacted access, visibility, and lawsuit traffic, making continued operations economically unsustainable, ABC7 reported.

"Times Square has been an important section successful Red Lobster's history, and this was a hard decision," said Red Lobster successful a connection to ABC7. "Extensive and prolonged operation astatine the gathering has importantly impacted access, visibility, and ft postulation astatine this restaurant. Given those conditions, on with the building's planned conversion to residential use, continuing to run astatine this determination was nary longer viable."

Employees affected by the closure are being offered transfers to different Red Lobster locations and further compensation to assistance with the transition.

Why Red Lobster is closing its Times Square determination

Although the edifice benefited from 1 of the busiest tourer districts successful the U.S., operating successful Times Square came with important costs.