Red Lobster planned to close in Cayce [Video]

Roughly two dozen more Red Lobster locations are scheduled to close within the coming days as part of the seafood restaurant chain’s ongoing bankruptcy proceedings.A recent court filing shows that the company is rejecting the leases of an additional 23 locations by Saturday, August 31, joining the more than 100 restaurants that Red Lobster closed earlier this summer. Once complete, the chain will have around 500 outlets left — a sharp decline from the 650 it had just last year.Red Lobster is in the process of selling itself to Fortress Credit Corp., a lender experienced in restaurant management that also owns Krystal, Logan’s Roadhouse and J. Alexander’s. The firm recently gave the seafood chain a $100 million loan to allow it stay afloat.Mismanagement, competition, inflation and other factors brought down Red Lobster, which has been a pioneer in the restaurant industry. Thai Union, a global seafood supplier, became Red Lobster’s …