Red Lobster auction closure: Bidding underway at closed locations

DENVER — The contents of dozens of closed Red Lobster restaurants are up for auction.

More than 90 Red Lobster locations in at least 27 states were listed as “temporarily closed” on the restaurant’s website. 

A liquidation company has begun an online auction of Red Lobster kitchen equipment and other contents of the closed restaurant locations, including four locations in Colorado.

The auctions are winner takes all – meaning, each winner will receive the entire contents of the Red Lobster location they bid on. Perishable goods and alcohol are not included in the auction.

Many of the auctions include high-performance ovens, upright refrigerators and freezers, cooking and warming solutions, and comprehensive bar and dining setups.

Auctions are now live online and will end periodically on Thursday. Auctioneers said all items must be picked up by end of day Friday.

As of 8 a.m. Wednesday, the top bid was $305 for all the contents of the closed Red Lobster in Lakewood.

Top bids as of 8 a.m. Wednesday:

> Red Lobster locations close abruptly: List of latest closures

The closures come as bankruptcy rumors circled the seafood restaurant chain in recent weeks. Red Lobster has been searching for a buyer to avoid filing for Chapter 11, multiple media outlets reported last month. 

The Orlando-based chain, known for its endless shrimp deals, has reportedly been eyeing bankruptcy filing to restructure its debt and downsize from its 650 US locations, CNN reports. 

Workers at the shuttered restaurants shared their disbelief on social media and said they received no notice whatsoever. 

For years, Red Lobster faced a multitude of difficulties — both financially and internally. 

In 2021 and 2022, the company saw a new CEO, chief marketing officer, chief financial officer and chief information officer join the C-Suite. All of them left within two years, according to CNN. 

Last summer, the company revived their endless shrimp menu deal, which led to a $11 million loss for the seafood chain, according to CNN.

Earlier this year, Red Lobster co-owner Thai Union Group, one of the world’s largest seafood suppliers, announced its intention to exit its minority investment in the dining chain.

Red Lobster’s roots date back to 1968, when the first restaurant opened in Lakeland, Florida. In the decades following, the chain expanded rapidly. Red Lobster currently touts more than 700 locations worldwide.

The Associated Press contributed to this report.

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