Red Lobster will close its Times Square restaurant on June 14, ending a more than 20-year run in one of New York City’s busiest tourist districts. The location, at 5 Times Square near 41st Street and Seventh Avenue, opened in 2003 and became a familiar stop for tourists, theatergoers and visitors passing through the area.
The company said the decision was difficult and called Times Square an important chapter in Red Lobster’s history. In a statement, the chain said prolonged and extensive construction at the building has hurt access, visibility and foot traffic, making it harder for the restaurant to operate successfully. Red Lobster also said the property is slated for conversion to residential use, which made continued operations at the site no longer viable.
The closure comes as Red Lobster continues working to rebuild after filing for Chapter 11 bankruptcy protection in May 2024. The seafood chain had closed dozens of restaurants nationwide amid financial pressure before later securing court approval for a reorganization plan. That restructuring allowed Red Lobster to exit bankruptcy under new ownership backed by Fortress Investment Group.
Following the reorganization, RL Investor Holdings LLC, an entity backed by Fortress, acquired the company. Damola Adamolekun was named chief executive officer and has since led efforts to stabilize and revive the brand. At the time of its bankruptcy exit, Red Lobster said it would continue operating as an independent company with 544 locations across 44 states and four Canadian provinces.
Red Lobster has not said the Times Square shutdown is part of a wider wave of closures. Still, the move reflects the challenges the chain continues to face as it tries to recover from a difficult financial stretch and adapt to changing conditions in key markets.
The company said it is grateful to the employees and customers who made the Times Square restaurant special over the years. Workers affected by the closure will be given the option to transfer to another Red Lobster location and will receive additional pay to help during the transition.
The Times Square outpost had long been one of Red Lobster’s most visible locations, positioned in a major commercial and entertainment hub that draws millions of visitors each year. Its departure marks the end of a notable presence in Manhattan as the company focuses on its turnaround and future growth.
