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NEW YORK — Communities around the country are losing cheddar bay biscuits and all-you-can-eat seafood deals as troubled Red Lobster closes around 100 US restaurants, with up to 135 more
Court filing lists Melbourne, Merritt Island restaurants as among those that are "unnecessary drain upon the financial resources" of Red Lobster
The company said it will use the bankruptcy proceedings to simplify its operations, close restaurants and pursue a sale.
Does the restaurant's bankruptcy signal rough seas ahead for casual dining chains?
Red Lobster is bankrupt, and it could spell more economic troubles to come.