Posted on 05/14/2024 5:21:20 AM PDT by Red Badger
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 for bankruptcy protection. The chain has tapped a restructuring expert as its chief executive, a possible indicator of an impending bankruptcy.
The mass closures are another sign of problems at Red Lobster and one of the only times in its more than 50-year history the chain has closed dozens of stores at once.
Red Lobster was a casual dining pioneer, bringing affordable seafood to middle-class consumers for the first time.
But the chain has declined in recent years due to a range of factors, including corporate mismanagement, say former leaders and restaurant analysts.
In 2020, Thai Union, a longtime supplier to Red Lobster, took an undisclosed financial stake in the chain, becoming a key shareholder.
(Excerpt) Read more at cnn.com ...
This one ain’t on him.
Red Lobster did itself in...................
Breaded shellfish is almost sacrilegious! And any restaurant selling breaded clam strips and calling them "fried clams" deserves a special place in restaurant hell. (The clam bellies are the best part!)
I used to go to casual dining places a lot but aside from Texas Roadhouse and maybe Longhorn, most of the chains have gone downhill, offering subpar food at sky-high prices. I will not criticize the waitstaff as they generally work very hard and try to give you a good experience - it is not their fault about the prices and food quality and they are often forced to work shorthanded.
As one who has steak several times a week, it is now more economical for me to get choice cuts at a butcher shop and cook them at home. Once you master cooking a quality steak at home in cast iron, you will never want to have another overpriced steak at Applebees or Chili's again!
Yep. Saw that on the local news this morning.
The one in Baymeadows has been there for literally decades. When I worked across the road in the industrial park I remember running over to that one at lunchtime for a takeout.....and that was in the early 80s.
Julia was an interesting person.
She was a good cook.
She was also a spook.
Lobster...is crazy priced....It was like $7.99/lb. Now it’s $50/lb..
Did you say “All you can eat shrimp!”?
Ain’t Biden Trainwreckonomics wonderful.
Except when on the road, I can eat better at home. I can defrost frozen stuff just as well as they can, and Costco has a wide variety to stick in the freezer.
Crab legs are another one… I like those more than lobster- a little more work, but worth it. They are CRAZY expensive.
Apparently,it’s a sign of a great economy when long-timed companies, restaurants, and retail businesses are closing their doors.
It’s a great day to be a lobster.
They were my favorite but we haven’t been since before covid. The last time we ate there the AC was broke, it smelled awful, and the food was bad. I was worried we were all going to be over the toilet and on the toilet for a few hours.
Well, for any type of food, it will always be much cheaper to buy groceries and cook at home, as compared to eating out.
I but crab in a can for patties...and just bought some imitation crab...for a pretend crab feast. I think it’s all about the butter.
Saw this in my last two attempts to give them my money over the last few years (one attempt was unsuccessful).
Coming out of Covid, tried to go to dinner at the Tallahassee, FL location. Nearly empty restaurant and was quoted a 40 minute wait due to "health and safety concerns". Apparently either the local Red Lobster management was hanging out to the last bastion of Covid policy or it was still their corporate directive.
Went to another sit down restaurant up the street that was plenty busy, and got sat immediately.
Went for lunch at one closer to me in January...walked in the door close to noon and lights were low, no one available to seat us. Walked a bit back saying "hello---are you open?!" and a bartender came out of the back to tell us we would be seated soon (One other couple in the restaurant). Got sat and had a mediocre lunch with mediocre service.
Can't say this news is surpising.
What does this even mean? I see this phrase used often. Are editors extinct?
Red Lobster did this to themselves, all by their lonesome..................
I’ve noticed a distinct drop in quality in most eating establishments I used to love. Most recently, Pei Wei has fallen off the rails. They use to have professional-looking chefs with the Asian hats and a look of cleanliness. Now they hire McDonald’s fry cooks to make their food, and the drop in qualify is noticeable. Hard, overcooked/undercooked rice; dry/tough meat; tiny portions. It is completely unpalatable now.
I could list a slew of similar apostasies in restaurants. It seems to be tracking society at large.
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