Red Lobster in Times Square, NYC, with a "Temporarily Closed" sign on the window.
Red Lobster is closing its Times Square restaurant on June 14, ending a 21-year presence in one of the world’s busiest tourist destinations. The company cited extensive construction and planned redevelopment as key factors in the decision.
“Times Square has been an important chapter in Red Lobster’s history, and this was a difficult decision,” the company said in a statement. The location, situated at 5 Times Square, has been a high-profile spot for the seafood chain since 2003.
Prolonged construction at the building has significantly impacted access, visibility, and foot traffic. Additionally, the property’s planned conversion to residential use made continued operations unviable, according to Red Lobster.
The closure comes as Red Lobster rebuilds following its Chapter 11 bankruptcy filing in May 2024. The company emerged from bankruptcy under new ownership backed by Fortress Investment Group, with Damola Adamolekun taking over as CEO.
As part of the restructuring, RL Investor Holdings LLC, acquired the company. Red Lobster said it would continue operating as an independent entity with 544 locations across 44 states and four Canadian provinces.
While Red Lobster has not indicated further closures, the Times Square restaurant has occupied a prominent corner at 41st Street and Seventh Avenue since 2003, catering to tourists and theatergoers.
Affected employees will be offered the opportunity to transfer to other company locations and will receive additional pay to support them through the transition.
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