by Timothy Nerozzi at Fox Business
Seafood restaurant chain Red Lobster is closing dozens of locations nationwide as the company struggles to stay above water.
An announcement released earlier this week indicated the company would be “auctioning off 50+ locations across the country.”
Restaurant liquidation company TageX Brands announced it would be overseeing the sale of equipment at the various closing locations, calling the situation its “largest restaurant equipment auction ever.” Only 48 locations were specifically listed in its catalog.
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The exterior of a Red Lobster restaurant is seen in Leesburg, Florida. (Stephen M. Dowell/Orlando Sentinel/Tribune News Service via Getty Images / Getty Images)
Five locations are set to be closed in California alone, with another five in Florida. Colorado and Maryland will both lose four.
The locations are being sold off wholesale by TageX, with the company announcing that “these auctions are WINNER TAKES ALL – meaning, each winner will receive the ENTIRE contents of the Red Lobster location they bid on.”
Earlier this year,…
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