More Red Lobster Locations are Closing, Will Any Close in NJ

With rumors swirling about Red Lobster's financial woes and potential Chapter 11 bankruptcy, the fate of its 16 New Jersey locations hangs in the balance.

Say it isn't so, what about the cheddar bay biscuits that are to die for. I love them.

Red Lobster is still very popular. The restaurant chain first opened in Florida, well over 50 years ago. Wow, I didn't realize this restaurant has been around this long. I do remember going when I was younger, my family loved Red Lobster.

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Red Lobster, according to a report from Bloomberg, rumors are that Red Lobster is going to file Chapter 11 bankruptcy. Will this mean mass closures around the country will happen, I'm hoping not.

Red Lobster is closing another 23 locations in the US by the end of August. Click here for the entire list of the most recent closings. New Jersey seems to be safe this time around, according to cnn.com.

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Chapter 11 bankruptcy is often referred to as "reorganization bankruptcy" and typically allows a business to stay open while it reorganizes funds to pay off existing debt over time, according to azcentral.com. There has been no word from Red Lobster as of yet.

There are sixteen Red Lobster restaurants in New Jersey. The closest Red Lobster to us at the Jersey Shore is in Toms River.

How will this affect New Jersey Red Lobster restaurants?

The rumors are out there and everyone is talking about the "possible" bankruptcy, but there has been no word yet from Red Lobster.

Is the problem really the Endless Shrimp at Red Lobster. This is by far the most popular deal Red Lobster has and consumers that come to the restaurant love the Endless Shrimp. As much shrimp as you can eat, only at Red Lobster.

I do like Red Lobster so much, and I would be sad if it would close. I hate seeing any restaurants or businesses closing.

But, before coming to New Jersey, I had no idea just how fresh the seafood is at specialty seafood restaurants here at the Jersey Shore. We are spoiled.