The company concluded filing for bankruptcy can "write a new chapter" with the chain. The restaurant chain, known for its seafood offerings and cheddar cheese biscuits, opened its first location in Lakeland, Florida, in 1968 and went under the ownership of General Mills shortly after. The chain was later spun off with the rest of General Mills's restaurant division as part of Darden Restaurants in 1995, with Red Lobster splitting from Darden in 2014.