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 ...
S/B “One of the FEW times”.................
IIRC, we once ate at one on Atlantic Blvd....................
That thar is the biggest bug I ever did see..; Steve McQueen in Tim Horn, 1980.
Red Lobster and Olive Garden used to be owned by the same corporation, Darden Restaurants. Here, they are both practically next door to each other ............
I guess selling crawdads as lobster didn’t go over as well as they thought it would.
I always called them ‘Dread Lobster’..................
That's common in restaurants that care more about the 'feelings' of their wait staff than of their customers comfort. When there aren't enough customers they should just rotate the staff - not the customers.
First they came for Skippers....
Well, we still have Captain D’s!....................😁
I occaisionally have to spend time in Denver. 20 years ago I had to get dinner and went across the street to Applebees (other places were a considerable walk): the worst steak I have ever been served.
Last summer I was back and close to a Ruth's Chris: that too was a disappointment, but not as bad. (barely pink for a medium rare)
At home, I rarely eat out. As you said, a descent steak in cast iron is the way to go. I cook substantially better than most local places. Having spent much time in good restaurants in both France and Italy, I guess I'm difficult to impress.
The combination of the China Virus lockdowns that changed eating-out behaviors and now rampant inflation and completely unreliable employees (even if you can find them) are going to destroy a number of restaurants.
The lockdowns killed my top two favorite Mexican food restaurants here in Phoenix.
Who orders steak at Applebee's? At best it's appetizers, a chicken sandwich, a burger, or a salad.
We have more Mexican and Thai restaurants here than you can imagine.
I never see a ‘crowd’ at any of them.
I think they are laundering money.................
They need a makeover. Close all the restaurants. Open new ones but turn them in a fast casual concept. Specialize in cheddar bay biscuits, shrimp and long Island ice tea.
“In fact, Julia Child’s spy career generated her first big recipe, a shark repellent designed to coat both explosives and pilots’ lifejackets.”
Really, what timing. Too many lawyers, esp. prosecuting attorneys attracted like crack addicts to the blood of the innocent while the real criminals are set loose (professional courtesy)...
I merely made a “crack” about poor red lobster, yet
This past week, somebody mentioned this exact story to me, and beats me what the context was that spawned the topic. Seemed kind of random at the time.
“Did you know that Julia Child was a spy... her first recipe was for shark repellent, developed for...”
🤔
(BTW, thanks for the link!)
“Jaws” first victim just died too, but that was after the JC spy topic had come up.
https://en.wikipedia.org/wiki/Susan_Backlinie
Regards,
So many of them are terrible.
When I moved back here in 2016, once a month I’d go with a friend to try a different one. I was going to write a guide, “2000 Enchiladas.” After 7, we quit, because none of the 7 were any good and we felt like, “Why eat crap when we can get good Mexican food at Los Dos Molinos?”
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