It seems like every day, news of another retail or restaurant chain is filing for bankruptcy, or working on a plan to try to avoid Chapter 11.

Yet another restaurant is struggling to keep afloat. The iconic seafood chain, Red Lobster announced that it's temporarily closing 78 locations across 27 states. The abrupt closure will affect restaurants across the nation, including Arizona.

Red Lobster trying to avoid bankruptcy

According to, Red Lobster is looking for a buyer in order to avoid filing for Chapter 11 bankruptcy.

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What Led to Red Lobster's Financial Troubles?

According to, the Oro Valley, Arizona Red Lobster will be one of the locations Red Lobster is listing as 'temporarily closed' on their website.

According to reports, Red Lobster lost $11 million dollars in the third quarter of last year. Critics blame the overwhelming response to their 'Ultimate Endless Shrimp' promotion.

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Red Lobster trying to avoid bankruptcy

The promotion, which offered endless shrimp for a fixed price, was intended to boost restaurant traffic. However, it seems that the promotion led to substantial operating losses for the company.

READ: What are They Building by the Sierra Vista Dutch Bros.?

How Will Arizona Red Lobster Locations Be Affected?

Red Lobster's announcement left many Arizonans wondering about the future of their beloved Red Lobster locations. The other Tucson locations, plus the locations across the Phoenix metro area, seem to be safe for now.

Red Lobster trying to avoid bankruptcy

The company's announcement could dash the hopes and dreams of a Sierra Vista location opening.

READ: How Do You Get to Sierra Vista Red Lobster?

Social media users in local Sierra Vista chit chat sites lamented that they may have to stop making Red Lobster the brunt of their internet memes and jokes.

Red Lobster trying to avoid bankruptcy

Decrying the fact they may never get to sink their teeth into the beloved cheddar biscuits locally, they realized they may have to answer the question, "What are they building?" with an answer other than: "The Sierra Vista Red Lobster."

Will Red Lobster's ship roll in? The answer remains to be seen.

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