Red Lobster is set to close its Times Square restaurant on June 14, marking the end of over 20 years of service in one of the busiest tourist areas globally. The seafood chain, which has been a fixture at 5 Times Square since 2003, announced that ongoing construction has severely impacted the restaurant's accessibility and visibility. Additionally, the building is slated for conversion to residential use, making continued operations unfeasible. The company expressed gratitude for the support from team members and guests over the years. This closure follows Red Lobster's recent exit from Chapter 11 bankruptcy protection in 2024, after which it was acquired by Fortress Investment Group. Under new CEO Damola Adamolekun, the company is focused on revitalizing its operations. While the Times Square location will close, Red Lobster has assured that affected employees will have the option to transfer to other locations and will receive extra pay to assist with their transition.