[dynachrome]

Will be called “Dead Lobster”?

[iluvschnitzle]

I can see it now in the boardroom:

“well all you can eat crab legs almost killed us...”

“and all you can eat shrimp almost killed us”....

“Wait I got it! How about all you can eat lobster?!”

[Magnum44]

[Leep]

Are they going to rename it China Star or similar?

[Lockbox]

So, when does all the lobster you can eat meal deal start? 🤣🤣🤣🤣🤣🤣. That’s the one which started the problem!

[desertsolitaire]

I wonder if Red Lobster has a viable future with the right leadership? Can it reinvent itself to stay solvent even during what appears to be an imminent economy downturn?
That will be the key. Is there mo ney to be made, for example, if they offered an all-you-can-eat fried pollock special regularly? Does Red Lobster suffer from dine and dash thieves? Catholic churches near me do well offering weekly Lenten fish fry dinners of Walleye, fresh lake perch, and whitefish and some fast food chains like Culvers, etc also offer dinners and sandwich baskets during Lent holiday. Could this become an all year thing at Red Lobster?

[MinorityRepublican]

Red Lobster used to own the property but Golden Gate Capital bought the chain and forced them to pay a lease. So now they're bankrupt.

This is a bad example of capitalism.

[1Old Pro]

The Red Lobster near me always has a packed parking lot. I’ve never been in it.

[FrankRizzo890]

COOL! When does the endless shrimp promotion come back?

/s

[Tommy Revolts]

[Rockingham]

Red Lobster began in Lakeland, Florida, was headquartered in Orlando, and was based on a long popular seafood restaurant there (Gary's Duck In) that thrived off business lunches and family dinners. As with Red Lobster, the large menu meant that just about everyone in a group could find seafood or something else to their liking.

As with Gary's, the weak points with Red Lobster were the time it took to eat there, the costs for food, real estate, and employees, and the large and at times unwieldy menu that challenged kitchen and service staff. In addition, early investment money in Red Lobster included the Mafia and they sometimes compromised business decisions. My guess is that there is still a place for a better managed Red Lobster -- now without any menacing men from Tampa demanding special concessions.

[Responsibility2nd]

A great Backstory on the failures of Red Lobster

https://www.sltrib.com/news/nation-world/2024/09/15/red-lobster-endless-shrimp-what/

Greed, gluttony and the crackup of Red Lobster

[Responsibility2nd]

Red Lobster has had lots of buyers. Each losing lots of money...

 

Red Lobster has had several ownership changes since its inception in 1968. Here’s a brief overview of its ownership history:

1. Founders (1968): Red Lobster was founded by Bill Darden and Charley Woodsby in Lakeland, Florida.
2. General Mills (1970): The company was acquired by General Mills when it had only five locations, which allowed for rapid expansion.
3. Darden Restaurants (1995): In 1995, General Mills spun off its restaurant division, including Red Lobster, into a separate publicly traded company known as Darden Restaurants.
4. Golden Gate Capital (2014): Darden sold Red Lobster to Golden Gate Capital, a private equity firm, for approximately $2.1 billion.
5. Thai Union Group (2016 - Present): Thai Union, a seafood supplier, acquired a 25% stake in Red Lobster in 2016 and later purchased the remaining shares in 2020, becoming the largest shareholder until recently.
6. Recent Developments (2024): As of September 2024, Red Lobster has emerged from bankruptcy and is now an independent company with new ownership and management.

In summary, Red Lobster has had at least five distinct ownership phases since its founding.

[Flavious_Maximus]

They hired a 35 year old Nigerian as CEO.

[HenpeckedCon]

They need to make better business decisions, like not opening a restaurant in freakin Hyannis. It lasted about a month. This was years ago, but still.