Overview
- Red Lobster confirmed the Times Square restaurant will shut after service on June 14, 2026, which will end the chain’s presence in Manhattan after more than two decades.
- The company said prolonged construction at 5 Times Square blocked access and visibility and made foot traffic too weak to justify the location’s large format and costs.
- Reports put the restaurant’s size at roughly 16,500 square feet and estimated annual rent near $2.2 million, a level that company spokespeople and analysts say helped make the site financially unviable.
- The closure comes as part of a post‑bankruptcy effort to cut underperforming, high‑cost sites following Red Lobster’s May 2024 Chapter 11 filing, its roughly 129–130 prior closures, and its emergence under RL Investor Holdings LLC with CEO Damola Adamolekun.
- Red Lobster said affected staff will be offered transfers to other locations and extra pay to ease the transition, and industry watchers expect further portfolio adjustments in 2026 as the chain focuses on profitability.