Beloved Times Square Restaurant Is Closing June 14 After 23 Years
A beloved Times Square restaurant is closing its doors after 23 years, and it's part of a chain's decision to shrink its footprint throughout the United States. However, a number of reasons were given for the closure, including construction at the restaurant's building.
Still the closure caught attention because Times Square appears to be a prime location for a restaurant.
The restaurant is Red Lobster. According to Fox Business, the restaurant, which is located at 5 Times Square, "is scheduled to close June 14, ending a high-profile presence the seafood chain has maintained in the heart of Manhattan since 2003."
"We are grateful to the team members and guests who have made this restaurant special over the years," the company said, according to Fox Business.
Why is Red Lobster Closing Its Times Square Restaurant?
What drove the decision to close the restaurant in such a high-traffic area? It turns out that changes to the building drove the decision.
Fox Business said the chain cited "extensive and prolonged construction at the building" that "has significantly impacted access, visibility and foot traffic at the restaurant."
In addition, the company listed "the property's planned conversion to residential use, saying continued operations at the location were no longer viable."
Red Lobster released a lengthy statement about the closure to ABC7: "Times Square has been an important chapter in Red Lobster's history, and this was a difficult decision. Extensive and prolonged construction at the building has significantly impacted access, visibility, and foot traffic at this restaurant. Given those conditions, along with the building's planned conversion to residential use, continuing to operate at this location was no longer viable. We are grateful to the team members and guests who have made this restaurant special over the years. All team members are being offered the opportunity to be transferred to the Red Lobster location of their choice and to receive additional pay to support them through this transition."
The move comes as Red Lobster announced it was also closing its oldest location, which is located in Tallahassee, FL.
Red Lobster Has Been Dealing With a Bankruptcy & Other Issues Recently
Red Lobster's CEO Damola Adamolekun revealed the chain will be reducing its footprint nationwide, telling The Wall Street Journalin February that the chain "needed to get smaller."
In a 2024 court filing made in a bankruptcy action, Red Lobster said, "the Debtors currently operate more than 530 casual seafood restaurants primarily located across the United States and Canada with nearly 36,000 employees." The motion revealed the chain was planning to close 23 more locations.
Last year, a federal judge approved the chain's reorganization plan, CBS News reported. Why did Red Lobster file for bankruptcy? The filing came "following years of mounting losses and dwindling customers while it struggled to keep up with competitors," CBS News reported. According to CBS News, Red Lobster decided to reduce its footprint to "simplify the business."
Red Lobster has been shrinking its footprint for some time.
TODAY noted in 2024 that Red Lobster closed 83 locations.
The chain's remaining restaurants can be found on its locator map.
This story was originally published by Men's Journal on Jun 1, 2026, where it first appeared in the News section. Add Men's Journal as a Preferred Source by clicking here.
2026 The Arena Group Holdings, Inc. All rights reserved.
This story was originally published June 1, 2026 at 10:21 AM.