Red Lobster in Elkhart closes permanently

ELKHART, Ind. - If you walk up to the Red Lobster located at 3009 Brittany Ct. in Elkhart, you'll be greeted by a sign reading, "This location is closed. We look forward to serving you at another Red Lobster location in the future."

Reports of the restaurant's closure recently circulated and have now been confirmed.

Bloomberg is reporting that the seafood chain, which has around 650 locations nationwide, is entertaining the idea of filing for Chapter 11 bankruptcy as it looks to restructure debt.

CNN reported the restaurant is abruptly closing at least 48 locations around the country, according to a leading restaurant liquidator.

TAGeX Brands is conducting an online auction of Red Lobster kitchen equipment, furniture and other contents at restaurants closing.

The auction begins Monday and continues through Thursday, according to company founder Neal Sherman.