Red Lobster has filed for Chapter 11 bankruptcy, but don’t worry: You can still buy the seafood chain’s famous buttery Cheddar Bay Biscuit mix in stores nationwide.
red lobster did the archiving on Sunday night, just days after announcing it would close dozens of U.S. locations amid financial difficulties. Its restaurants will remain open and continue operating during the bankruptcy process, the company said in a statement. Press release.
“This restructuring is the best path forward for Red Lobster,” CEO Jonathan Tibus said in a statement on the restaurant chain’s website. “This allows us to face various financial and operational challenges and emerge stronger and refocused on our growth. The support we receive from our lenders and suppliers will help ensure we can complete the sale process quickly and efficiently while remaining focused on our employees and guests.”
The news sparked widespread panic online, as people feared they wouldn’t be able to get their hands on the cheddar biscuits Red Lobster is known for. The restaurant chain sells cookie mixes in stores, including in Wal-Mart It is ACME.
“Red Lobster files for bankruptcy. Get these cheddar biscuits while you can,” one user posted in X.
But a Red Lobster spokesperson said the cookie mix can still be found on store shelves.
“Today’s news will not affect our partnership with our in-store consumer partners,” the spokesperson told TIME in an email. “You will continue to see these homemade products on the shelves.”
Red Lobster’s bankruptcy filing comes after the restaurant chain was struggling financially for years. In summer 2023, Red Lobster took its previously limited-time “Ultimate Endless Shrimp” promotion and made it permanent. The promotion allowed customers to pay $20 for endless shrimp and cost the restaurant chain $11 million, according to the bankruptcy filing.
A Red Lobster spokesperson was unable to detail how much the sale of the cheddar biscuit mix contributes to the restaurant chain’s profits.
On the Red Lobster website, you can find a store near you that sells Red Lobster products Cheddar Bay Cookie Mix.
This story originally appeared on Time.com read the full story
