Red Lobster locations close, bidding starts at $1

KANSAS (KSNT) - On Monday, Red Lobster announced more than 50 locations nationwide would close as the company reduces its footprint. The starting price for the restaurants? $1.

27 News contacted auction company TAGeX Brands for more information about the auctions. The locations are being sold in their entirety with the auction winners receiving all store contents. The auctions, happening in 21 different states, can be found here.

While Kansas doesn't have any locations up for auction just yet, Red Lobster has listed its Salina, Kansas City and Olathe locations as closed.

“Our goal with online auctions is to prevent high-quality items from being discarded in landfills, instead promoting their sustainable reuse," said Founder/CEO of TAGeX Brands Neal Sherman. "This approach economically benefits the original owners, promotes reusability, and offers buyers reduced prices through an auction setting.”

The auctions end on Thursday, May 16.

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