Popular Pittsburgh-area Red Lobster could close amid bankruptcy

ROSS TOWNSHIP, Pa. (KDKA) — Red Lobster wants to close several dozen more restaurants following its bankruptcy, including the location on McKnight Road.
A new list revealed in court filings last week shows locations that are in danger of closing if they can’t renegotiate their leases, CNN reported on Thursday.
The restaurant on McKnight Road is on the list, as well as locations in Chambersburg, King of Prussia, and neighboring Ohio and West Virginia.
Before filing for bankruptcy, a company that helps businesses liquidate restaurant equipment revealed that Red Lobster planned to close about 50 restaurants.
“This restructuring is the best path forward for Red Lobster,” CEO Jonathan Tibus said in a press release announcing the bankruptcy filing in May. “It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth. The support we’ve received from our lenders and vendors will help ensure that we can complete the sale process quickly and efficiently while remaining focused on our employees and guests.”

Red Lobster said that it had more than $1 billion in debt and less than $30 million in cash on hand, according to CNN.
There are other Red Lobsters in the Pittsburgh area, including in Robinson, Washington, Greensburg and Uniontown.