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Red Lobster Shutters Oldest Florida Site Amid $76 M Loss

5/20/2026

Summary

Story summary

Red Lobster will close its Tallahassee, Florida restaurant on May 24, 2026.
The location opened in October 1970 and was the chain’s oldest restaurant.
CEO Damola Adamolekun, hired in August 2024, warned more closures may follow.
The chain posted a $76 million net loss for 2023, including $11 million tied to the endless-shrimp promotion that returned April 21, 2026.
Red Lobster emerged from Chapter 11 bankruptcy in September 2024 with a $60 million Fortress Investment Group infusion.

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Story summary

Red Lobster will close its Tallahassee, Florida restaurant on May 24, 2026.
The location opened in October 1970 and was the chain’s oldest restaurant.
CEO Damola Adamolekun, hired in August 2024, warned more closures may follow.
The chain posted a $76 million net loss for 2023, including $11 million tied to the endless-shrimp promotion that returned April 21, 2026.
Red Lobster emerged from Chapter 11 bankruptcy in September 2024 with a $60 million Fortress Investment Group infusion.