Red Lobster is closing its flagship Times Square restaurant on June 14 at 5 Times Square. The closure follows extensive and prolonged construction that reduced access, visibility, and foot traffic. The building is planned for conversion to residential use, making continued operation no longer viable. The company will relocate employees to nearby Red Lobster locations and provide additional pay to support the transition. The Times Square site opened in 2003 and was the chain’s only NYC restaurant. The New York Post reported the landlord sought $2.2 million in annual rent for a three-story, over 16,000-square-foot space.
""Extensive and prolonged construction at the building has significantly impacted access, visibility, and foot traffic at this restaurant.""
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