Red Lobster has permanently closed its Times Square location after 23 years of operation in the heart of Manhattan's theater district. The seafood chain announced the closure, describing it as a difficult but necessary business decision.

The Times Square restaurant had been a fixture in the busy tourist area since opening in 2001. Located in one of the world's most visited destinations, the restaurant served both tourists and local residents for over two decades.

In a statement, Red Lobster acknowledged the significance of the location to the company's history. "Times Square has been an important chapter in Red Lobster's history, and this was a difficult decision," the company said.

The closure comes amid broader challenges facing the restaurant industry, including rising real estate costs in prime Manhattan locations and changing consumer dining patterns. Many chain restaurants have struggled with the high overhead costs associated with maintaining operations in Times Square.

Red Lobster continues to operate other locations throughout the New York metropolitan area and across the United States. The company has not indicated whether it plans to relocate within the Times Square area or elsewhere in Manhattan.