Red Lobster planning the closure of ANOTHER 135 restaurants if landlords won't give in to the chain's demands
- The casual dining staple listed locations to close if rent is not renegotiated
Red Lobster is ready to close another batch of restaurants - after shutting almost 100 and filing for bankruptcy in May.
www.dailymail.co.uk
The restaurant's landlord is reportedly doubling the location's rent to $2.2 million a year, posing a threat to the 22-year-old lease.
Red Lobster has just a few weeks to agree a deal with the landlord as the new lease is set to begin on June 30.
The decision to include the high-profile location on its list of rejected leases 'could be a way to exert pressure on the landlord,' bankruptcy attorney Patrick Collins told The Post.
'It's a way for the company to signal to the landlord that unless something changes it's prepared to close that store,' Collins added.
Bankruptcy court documents show that there were a total of 228 leases that the company calculated will keep losing money unless the rent is cut.