Red Lobster has filed for Chapter 11 bankruptcy, but don’t worry: You can still get the seafood chain’s famous buttery Cheddar Bay Biscuit mix in stores across the country.
Red Lobster made the filing late Sunday, just a few days after it announced that it would be shutting down dozens of locations in the U.S. amid financial difficulties. Its restaurants will remain open and continue operating during the bankruptcy proceedings, the company said in a press release.
“This restructuring is the best path forward for Red Lobster,” Chief Executive Officer Jonathan Tibus said in a statement on the restaurant chain’s website. “It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth. The support we’ve received from our lenders and vendors will help ensure that 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 worried that they wouldn’t be able to get their hands on the cheddar biscuits Red Lobster is known for. The restaurant chain sells a mix for the biscuits in stores, including at Walmart and ACME.
“Red Lobster files for bankruptcy. Get those cheddar biscuits while you can,” one user posted on X.
— 𝔍𝔲𝔰𝔱𝔦𝔫 (@helveticagothic) May 20, 2024“Red Lobster filed for corporate bankruptcy”
Me: BUT THE CHEDDAR BISCUITS pic.twitter.com/hzTBZlshHT
Me bidding for the cheddar biscuit formula at Red Lobster’s bankruptcy asset sale pic.twitter.com/7l69nu58vo
— CJB, Esq. (@CJoeBlack) April 16, 2024
But a Red Lobster spokesperson said that the biscuit mix can still be found on store shelves.
“Today’s news will not affect our partnership with our in-store consumer partners,” the spokesperson said in an email to TIME. “You will continue to see those at home products on the shelves.”
Red Lobster filing for bankruptcy comes after the restaurant chain has been struggling financially for years. In summer 2023, Red Lobster took its previously limited-time offer of the “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.
The Red Lobster spokesperson could not elaborate on how much the sale of the cheddar biscuit mix contributes to the restaurant chain’s profits.
On Red Lobster’s website, you can find a store near you that sells the chain’s Cheddar Bay Biscuit Mix.
