Report: Red Lobster preparing to file for bankruptcy

local12.com ^ | Apr 17th 2024 | WKRC Staff

[Hillarys Gate Cult]

Last time I ate at Dead Lobster it wasn’t very good.

Years ago I read that the restaurant chain is worth a lot. Not for the name of it but for all of the property the buildings are on and the chain owns.

[V_TWIN]

Never frozen.

It is farm raised but NOT in some 3rd world Indonesian country.

And BAP certified.

[V_TWIN]

Not everybody lives in paradise 😁

[1Old Pro]

Last summer, Red Lobster launched a $20 all-you-can-eat shrimp deal which, although popular with customers, ended up costing the company over $11 million in one quarter.

No biggie, they can just sell more and make it up on volume. /s

[GOPJ]

The outlet attributed those losses to less Americans choosing to eat out at restaurants and an increase in food and labor costs. Red Lobster closed 16 locations, per the outlet.

Biden did this... lots of middle class restaurants will struggle under President Sniffer Pervert and his goons.

[V_TWIN]

We’ve frequented the one closest to us twice in about a years time and it was actually pretty good.

The location however is getting sketchy.

[Track9]

I see it too. Real lowlife stuff.

[GOPJ]

It’s a good memory of fun with friends - that IS a social life.

[yldstrk]

You are right. Looking back though, it is funny. We thought it was a huge deal driving up to eat at Red Lobster.

[Red Badger]

The property our Red Lobster sits on is prime waterfront on Santa Rosa Sound with a great sunset view.

I wouldn’t be surprised if it was sold to a condo developer. A 12 story (our local limit) condo would have a view of the Gulf also........

[V_TWIN]

“Biden did this”

We give that mush brain WAY too much credit......effing with businesses and capitalism in general all started with that pizza chit obama.

[Blueflag]

That’s a good idea. Aldi’s Isa bit of a hike for us, but IS generally a good value.

Gotta ensure it’s sourced and packed IN THIS hemisphere though. Prefer wild caught.

[ArcadeQuarters]

Good riddance. It’s not what it used to be.

[Blueflag]

Best source here for that is Costco. 45 min away.

[Wallace T.]

The only rationale for a loss leader is that you can make up for the loss by cross-selling other items, such as drinks or appetizers. The clientele Red Lobster attracted apparently did not do that in sufficient numbers.

Every restaurant chain has its life cycle. Red Lobster is no exception.

[RummyChick]

There is a crazy deal going on with Arby’s right now that makes me wonder if bankruptcy is next for them. You can order $1.49 item which is the cheapest I can find and get any sandwich you want including the $8.00
It is one per person once a week for 4 weeks.

You can guess what is happening. People are using multiple accounts to get this deal multiple times a week.

I havent eaten at Arby’s in years but I did do this deal last week. That sandwich was good and let me make several sandwiches out of it.

[V_TWIN]

“It’s not what it used to be.”

Neither is General Motors and yet somehow they got saved....funny how some businesses are rescued while others are left to sink or swim.

[dfwgator]

The same people who pulled Obama’s strings are pulling Biden’s.

[The Louiswu]

[V_TWIN]

“The same people who pulled Obama’s strings are pulling Biden’s.”

And if you follow that trail to the very end you’ll eventually arrive at the gates of hell.......and I mean that LITTERALLY.