Home BIZ. News Restaurants Red Lobster leaving Darden Group; Fate uncertain

Red Lobster leaving Darden Group; Fate uncertain

Rumors flew around the Internet during the Christmas holiday about the possible closing of Red Lobster restaurants nationwide. However, a spokesperson for Darden Restaurants said that is simply not true.

“Never have we said we would be closing restaurants,” said Rich Jeffers, director of media relations for Darden.

The fear of losing Cheddar Bay Biscuits was initiated by a press release from Darden on Dec. 19, where the company hinted at selling or “spinning off” its signature restaurant.

Under the heading : “Separate the Company’s Red Lobster Business,” Dardens’ release said, “Although no final decision has been made on the form of the separation, the Company expects to execute a tax-free spin-off ofRed Lobster to its shareholders, but may also consider a sale of the Red Lobster business.”

Darden also owns the Olive Garden and LongHorn Steakhouse. In Shreveport-Bossier there is one Red Lobster, two Olive Gardens and one Longhorn.

The full release can be read here.