Red Lobster, a well-known seafood chain, is facing financial challenges, leading to the closure of several of its restaurants. As a result, equipment from over 50 Red Lobster locations in the US was put up for auction by a liquidator. The auction included various items such as freezers, ovens, and even a lobster tank from a California location. The company's financial struggles have been exacerbated by the pandemic, increased costs, and other industry challenges. Additionally, major shareholders, including Thai Union Group and Seafood Alliance, have indicated their plans to exit their investments in Red Lobster. These developments suggest a significant shift in the company's ownership and financial landscape.