The ongoing retail apocalypse claimed another victim this week.
Red Lobster, the casual dining restaurant chain with 550 locations, is entering Chapter 11 bankruptcy proceedings, turning over ownership for a second time in ten years as its sales and revenues continue to nosedive precipitously.
The company abruptly shuttered roughly 50 of its locations across the country last week without informing employees, who showed up to work only to find signs announcing the closures, which may be a potential labor law violation. According to staff complaints, they only later received notice that they’d be laid off or transferred to the remaining stores, in some cases many miles away.
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