ST. LOUIS — Red Lobster is exercising its right to reject leases at locations it says are unprofitable — including its Maplewood restaurant — according to an Aug. 22 court filing.
The seafood restaurant chain's May 19 Chapter 11 bankruptcy filing followed the closure of about 100 restaurants, sparking nationwide speculation about whether the company would fold.
Now, another 23 restaurants will close and be vacated by Aug. 31.
The list of restaurants headed for closure names locations in more than a dozen states, including one in Missouri. The location at 2381 Maplewood Commons Drive is set to close. That property is owned by an entity tied to developer Michael Staenberg of the Staenberg Group, St. Louis County and Missouri records show.
Red Lobster has requested a hearing for Aug. 29.
Attorney Edward Peterson of Tampa, Florida-based law firm Johnson Pope, who is not involved in the proceedings, said the scheduling of the hearing for that day is intended to get the company out of locations in time to avoid incurring another month’s worth of rent payments for them.
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