YOUR PATCH — Red Lobster, which has 31 restaurants in Pennsylvania, has filed for Chapter 11 bankruptcy protection as part of a strategy to recoup losses from its endless shrimp promotion that included the abrupt closing last week of more than 50 locations nationwide.
Some of the restaurants in the Philadelphia metro area include:
1 Baltimore Pike Springfield, PA 19064
9140 Roosevelt Blvd E., Philadelphia, PA 19115
425 W. DeKalb Pike, King of Prussia, PA 19406
640 Cowpath Road, Lansdale, PA 19446
2275 E. Lincoln Highway, Langhorne, PA 19047
Red Lobster’s bankruptcy was expected. Its “Ultimate Endless Shrimp” promotion last year was intended as a limited-time offer but brought in enough new customers that the chain added it to its permanent menu in June. Customers gobbled it up, and the chain reported fourth-quarter 2023 losses of $12.5 million, the outlet reported.
Red Lobster said the remaining restaurants will remain open and continue operating as usual during the bankruptcy process. The chain currently has 578 restaurants in 44 U.S. states and Canada.
“This restructuring is the best path forward for Red Lobster. It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth,” CEO Jonathan Tibus said in a news release. “The support we’ve received from our lenders and vendors will help ensure that we can complete the sale process quickly and efficiently while remaining focused on our employees and guests.”
More than $22 million in “Money Match” checks were mailed to nearly 100,000 Pennsylvanians, the treasury said.
In a news release on Thursday, the Pennsylvania Treasury said people should be on the lookout for the checks, which are part of the Pennsylvania Money Match program. Treasurer Stacy Garrity said to cash or deposit the checks “promptly.”
The first Pennsylvania Money Match checks, totaling more than $1.7 million, are now on the way to Pennsylvanians’ mailboxes. Pennsylvania Money Match is a new program that allows Treasury to return certain unclaimed property to rightful owners automatically, which was approved unanimously by the General Assembly and signed by the Governor last year.
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“I want Pennsylvanians to know that this is a real check, it is real money, and it belongs to them,” Garrity said in the news release. “And as always, I still encourage everyone to regularly search for unclaimed property online, as many claims will not qualify for the Money Match process.”
With the mailing of the year’s last batch of checks, more than $50 million will have been returned automatically to Pennsylvanians.
What are Money Match checks?
The program allows the state treasury to automatically return unclaimed property valued up to $500 owned by a single individual. Before the program was created in 2024, residents themselves had to seek out unclaimed property.
“I’m thrilled to continue this program as we work hard to get more money back to its rightful owners,” Garrity said in the news release.
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However, if the property has multiple owners or is valued higher than $500, Pennsylvanians still need to file a claim.
What is unclaimed property?
Unclaimed property includes dormant bank accounts, uncashed checks, forgotten stocks, rebates and insurance policies, among other things. It can also include the contents of abandoned safe deposit boxes.
According to the state treasury, more than one in 10 Pennsylvanians is owed some of the $5 billion in unclaimed property in the treasury’s care, and the average value of a claim is more than $1,000.
Unclaimed property scam
On its website, the state treasury has a warning about scammers using text messages to target potential unclaimed property claimants.
The department “never reaches out to people in regard to any program, including unclaimed property, via unsolicited text messages.”
A special weather statement was issued by the National Weather Service on Friday at 10:06 a.m. until 1 p.m. for Warren, McKean, Elk, Cameron, Clearfield, Cambria and Somerset counties.
“Temperatures will drop below the freezing mark through midday with rain showers quickly changing to snow showers. Blustery winds may dry off roads and other paved surfaces, but any residual water from previous rain or melting snow could freeze up and result in slick spots through the afternoon,” explains the weather service.
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