Red Lobster recently announced that it’s considering filing for Chapter 11 bankruptcy in the next few weeks. The company blames financial pressures and rising labor costs. The restaurants are expected to continue operating normally while the bankruptcy procedure is underway. The first Red Lobster opened in Lakeland, Florida in 1968. Four others soon opened across the South. General Mills acquired Red Lobster in 1970, and the restaurant chain rapidly expanded in the 1980s, growing to 400 locations by 1985. A few years later in 1988, their famous cheddar bay biscuits were introduced. Today, a new batch of biscuits is baked every 15 minutes, and they serve more than a million biscuits every day. Learn more here.