Red Lobster is rejecting leases at unprofitable locations, including its Maplewood,
Missouri restaurant, as part of its Chapter 11 bankruptcy reorganization, according to an Aug. 22 court filing.
The seafood chain, which closed about 100 restaurants after its May 19 bankruptcy filing, will now shut down an additional 23 locations by Aug. 31. The Maplewood restaurant at 2381 Maplewood Commons Drive, owned by developer Michael Staenberg’s entity, is on the closure list. Red Lobster has scheduled a hearing for Aug. 29 to expedite the lease terminations and avoid further rent payments, as explained by attorney Edward Peterson of Johnson Pope law firm.
