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Despite a recent reports that said seafood chain Red Lobster would be closing its doors, parent company Darden Restaurants says that’s bogus.

According to a press release from Darden, they are planning to

“separate Red Lobster” from the company… and execute a “tax-free spin-off”,

though a final decision has yet to be made.

“Although no final decision has been made on the form of the separation, the Company expects to execute a tax-free spin-off of Red Lobster to its shareholders, but may also consider a sale of the Red Lobster business,”

said the press release.

In a tweet Friday (Dec. 27), Darden wrote (@RedLobster):

“To clarify, reports that @RedLobster is closing are false. We’re looking forward to your next visit!”

So, it looks like restaurant goers can relax … for now.

Via Ballerstatus.com

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