Red Lobster is filing for bankruptcy. The Florida-based casual dining giant filed for voluntary Chapter 11 bankruptcy, but plans to remain open even as it closes locations across the U.S. The popular chain had previously announced plans to close 99 locations as it deals with its financial problems. Red Lobster was founded in 1968 and had grown to nearly 700 nationwide locations as of 2019, but has seen a significant dip since the pandemic. The blame is being put on major missteps by management including their choosing to make “endless shrimp” permanent.