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Four months after its Chapter 11 filing, restaurant chain Red Lobster says it has exited bankruptcy led by new management.The company announced on Monday, Sept. 16 that it's been acquired by lender group RL Investor Holdings with $60 million in new funding backed by Fortress Investment Group. Damola Adamolekun, former chief executive officer at Asian fusion casual dining chain P.F. Chang’s, is now running Red Lobster. The move comes after the chain, founded in 1968, abruptly closed dozens of locations earlier this year. It still has 544 locations across 44 US states and four provinces in Canada. "Red Lobster has...

In June of last year, Red Lobster announced that Ultimate Endless Shrimp — as much as you can scarf down for just $20 — would become an “all day, every day” fixture of the menu. Game on, said America. Diners swarmed the chain’s nearly 700 restaurants, ordering round after round of Parrot Isle Jumbo Coconut Shrimp (breaded, sweet and fried), Walt’s Favorite (breaded and fried), Garlic Shrimp Scampi (shrimp in a pool of butter and garlic sauce), Shrimp Linguini Alfredo (shrimp on a pile of pasta with garlic sauce) and Grilled Shrimp Skewers (self-explanatory). The first round came with two...

Red Lobster, known for bringing all-you-can-eat shrimp to the average American and which was at on point the world’s largest seafood chain, filed for bankruptcy last month. Red Lobster now has more than one billion dollars in debt. They closed 50 locations about two months ago and just announced a list of 600 locations it plans to close. What went wrong? Same Old, Same Old Remember going to Red Lobster as a kid? You might have tried your first lobster tail, or surf-n-turf there. That experience you had as a kid, would be hardly different if you went into one...

The iconic restaurant chain Hooters has abruptly announced the closure of 40 locations nationwide, citing the rising cost of food and rent. ...... While Hooters may not be to everyone’s taste, the closures are further evidence of the economic toll caused by rampant inflation, which has soared since the Biden regime seized office in 2021. Last month, the Red Lobster restaurant chain announced that it would be filing for bankruptcy and closing nearly 120 restaurants across 27 states after sustaining continued losses. Meanwhile, a recent survey by Lending Tree found that having once been an affordable alternative for lower-income workers,...

Red Lobster has filed for bankruptcy just days after closing dozens of its restaurants.In its bankruptcy petition filed on Sunday, May 19, the company listed assets of $1 billion and liabilities of $10 billion. The filing stated that the company "intends to use the proceedings to drive operational improvements, simplify the business through a reduction in locations, and pursue a sale of substantially all of its assets as a going concern." The company said restaurants not listed as "temporarily closed" on its website will remain "open and operating as usual during the Chapter 11 process." Founded in 1968, Red Lobster...

Red Lobster has filed for Chapter 11 bankruptcy protection days after shuttering nearly 100 restaurants across America. The seafood chain, which has closed restaurants in 27 states, has been struggling with rising lease and labor costs in recent years and also promotions like its iconic all-you-can-eat shrimp deal that backfired. Demand for one such recent promotion overwhelmed restaurants, reportedly contributing to hundreds of millions in losses.

Red Lobster customers have taken to social media to say goodbye to the beloved chain as it edges towards bankruptcy. But other Americans have boasted about how much they ate in the chain's famous $20 'endless shrimp' promotion, recently raised to $27, which is blamed for the chain's demise. One customer claimed she managed to guzzle down 108 shrimp as part of the deal by staying at the restaurant for four and a half hours. 'I set a new record at my local Red Lobster, this is my greatest achievement in life' the poster explained in a TikTok video. The...

Restaurant chain Red Lobster could file for bankruptcy protection as early as next week, The Wall Street Journal reported on Tuesday. People familiar with the matter told the Journal that the company, overwhelmed with hundreds of millions in debt, plans to file a Chapter 11 bankruptcy petition in Orlando before Memorial Day. Bloomberg previously reported in April that the restaurant company was considering filing for Chapter 11 bankruptcy protection.

As of today, select Red Lobster locations are CLOSED. On our Restaurant Equipment marketplace, we are auctioning off 50+ locations across the country. These auctions are WINNER TAKES ALL – meaning, each winner will receive the ENTIRE contents of the Red Lobster location they bid on. Auctions are live and will end periodically on Thursday, May 16, 2024. LIST AT LINK....................

Struggling Red Lobster is abruptly closing at least 48 of its restaurants around the country, according to a leading restaurant liquidator. TAGeX Brands is conducting an online auction of Red Lobster restaurant inventory, including kitchen equipment, furniture, tables and chairs. The auction begins Monday and continues through Thursday, according to company founder Neal Sherman. Red Lobster locations in Buffalo, Orlando, Jacksonville and other cities were listed as “temporarily closed” on Red Lobster’s website, according to local news reports. Red Lobster did not respond to CNN’s requests for comment. The company has around 650 locations. Red Lobster is reportedly considering filing...

Red Lobster is reportedly considering filing for bankruptcy to relieve financial pressures that have weighed on the company. According to a report by Bloomberg citing people familiar with the discussions, Red Lobster is weighing a Chapter 11 bankruptcy filing to renegotiate burdensome leases and address other long-term contracts as well as rising labor costs. The outlet reported that the seafood restaurant chain is being advised by law firm King & Spalding on the subject, and that while discussions about restructuring are ongoing and that no final decisions have been made about a bankruptcy filing. By filing for Chapter 11 bankruptcy,...

Not every deal is a good deal.Yes, you can, in fact, have too much of a good thing. And it appears Red Lobster is learning that the hard way. In an earnings report call in early November, Ludovic Regis Henri Garnier, the CFO of Thai Union Group, which owns Red Lobster, announced that its Ultimate Endless Shrimp deal, which is normally a limited-time offer but was added to the daily menu in June, was exceedingly popular — so popular that it caused the restaurant chain to post an operating loss of more than $11 million in the third quarter of...

Red Lobster faced a staggering $11 million loss in the third quarter of 2023 - which the company's CFO is blaming on the restaurant's all you can eat shrimp deal.Financial reports from the third quarter - running from July 1 through September 30 - showed the iconic American seafood restaurant's drastic downfall. Red Lobster wanted to lure more customers in after facing a significant financial loss of $5.4 million in the second quarter - but they massively fumbled their plans by offering an 'all you can eat' promotion that was a bit too generous.The 'Endless Shrimp' offer was initially a...

I have never seen anything like this in public before.People need to talk and not just stare into their phones. https://rumble.com/vlyjj3-man-has-had-enough-of-biden-stands-in-red-lobster-and-shouts-who-voted-for-.html

Northern and Southern California seafood fans say they’re buying giant lobster claws sold at Costco stores, and photos on Instagram and Reddit suggest each claw is much larger than a human hand. Screenshot from Instagram ================================================================= Seafood lovers on Instagram and Reddit are freaking out over photos showing gigantic lobster claws, and those posting the pictures say they bought them at Costco stores. “This thing is unreal!” one Instagram user wrote this week, sharing a couple of photos of a massive claw in Southern California’s Newport Beach. “I mean, come on. I’ve seen a few big claws at Costco...

Restaurant chain Red Lobster is the latest company to cave to pressure from the far-left blacklisting campaign against Tucker Carlson, announcing Tuesday that they would no long advertise on Fox News’ Tucker Carlson Tonight. The Wrap reports that Red Lobster confirmed their removal of ads from Tucker Carlson’s prime time show, saying in a statement, “Red Lobster’s advertising buying guidelines reflect our core values and commitment to supporting programming that represents the highest standards of good taste, fair practice and objectivity.” “We reserve the right to make changes to our purchases when the dialogue is no longer in line with our criteria.” -snip...

“Anyone who ate at Red Lobster in Fort Smith from July 19 to August 4 should seek vaccination immediately if they have never been vaccinated against hep A or are unsure of their vaccination status,” the Arkansas Department of Health (ADH) wrote in a news release on Wednesday. “This case appears to be related to travel outside of the state and is not thought to be part of the current hep A outbreak in Northeast Arkansas.”

For the past year as some of you know, Sweden has called for a ban on lobster imports from the United States. Without a shred of proof, they claim that American raised lobster threaten their native lobster in its own habitat. Only two forces seem to be fighting this unjustified and uncalled for ban, Nova Scotia and New England Fisherman, particularly those from my home state of Maine. The ban proposal has already cleared its first hurdles despite new data by European scientists that show that American imports have nothing to do with the increase of North American lobsters in...

Red Lobster's turnaround just got a major boost from Beyonce. [...] Red Lobster's sales soared 33% on February 7, one day after Beyonce released a new song that included a reference to the seafood chain. "We had no idea Beyonce was going to give us that amazing shoutout," Red Lobster CEO Kim Lopdrup told Business Insider in a phone interview. "We were completely surprised and delighted. It has been an incredible weekend following the release of Beyonce's new song." In the song, called Formation, Beyonce refers to Red Lobster as a reward for sex. ...

A Mother's Day outing at a Georgia Red Lobster Restaurant turned violent when a family was attacked by another group of men entering the eatery, resulting in three people being hospitalized, according to wlox.com. The Columbus Police Department reported that as one family left the restaurant Sunday (May 10) at about 3 p.m., one man who was holding a 14-month-old child was jumped by members of the arriving group.