Current Events > Is Red Lobster really going out of business?

(+) Yeah! (+)

I read they're filing chapter 11 :(

I really like their food so I'm sad.

I've never tried Red Lobster before in my life

seafood just isn't a big thing around these parts

https://gamefaqs.gamespot.com/a/forum/d/d6f73737.jpg

Welcome to the new economy where everything is going out of business.

yeah the hedge fund that bought them put all the debt into the business and are now losing millions on endless shrimp they screwed up red lobster so bad

Going bankrupt doesnt mean that all red lobsters are closing

but Im sure at least 60% will

More blood on Biden's hands

We gonna lose those biscuits forever

Their cheddar bay biscuit is delicious...and that's honestly the only other thing I remember about that place lol.

DipDipDiver posted...

We gonna lose those biscuits forever

You can just buy those in stores which probably sealed their fate. No reason to go there when you can get the only good thing they have elsewhere

This explains why pretty well

https://www.youtube.com/watch?v=ziixxmJ2wPY

DipDipDiver posted...

We gonna lose those biscuits forever

Don't joke about that.

Red Lobster is so good

I need to get to one before they start closing down

NPC posted...

More blood on Biden's hands

poor chud

Well damn. Hopefully they keep both the biscuit mix & the frozen ones in the stores.

The fact that they've been doing substantially worse than Long John Silvers for years is still wild to me.

Their new Bottomless Barnacles special didnt pay off.

Long John Silver's has awesome hush puppies.

https://m.youtube.com/watch?v=I17aERAQPfc&pp=ygUXY29tcGFueSBtYW4gcmVkIGxvYnN0ZXI%3D

Yep.

All I know is that Walton's stopped carrying their frozen shrimp around the time the bankruptcy was announced and that's unfortunate because that shit was fire.

if those biscuits cease to exist that's going to be a problem

My local store still carries red lobster shit

frozen shrimp
red lobster biscuit mix
frozen red lobster biscuits

RIP Joe Flaherty

I've never been to Red Lobster, maybe o should try it before it's too late

I went back in sept it was ok went during lunch took an hour to get our food and drinks took about 20 mins got the endless shrimp was maybe 10 people total in the red lobster service was very meh

Muh cheddr biscuts

That's too bad, it was always one of the better big chain restaurants IMO

firedoom666 posted...

I've never been to Red Lobster, maybe o should try it before it's too late

If you are in a place with local seafood restaurants, dont bother, they arent anything special.

firedoom666 posted...

I've never been to Red Lobster, maybe o should try it before it's too late

don't let anyone itt convince you that the biscuits alone aren't worth the visit

Im honestly surprised they have done as well as they have for so long in my area of the Midwest. They used to advertise ALL the time back in the 80s. They were much newer back then and our options for seafood were much much lower.

Their food was middle of the road. Most people had an item they really liked but most of it was just serviceable. But for our area they were fairly expensive but they still did well.

But all these years later there are more seafood options, better places, better value. A casino opened up that has a killer buffet that always offers really good shrimp, fried and also unbreaded/cold. They offer crab legs, lobster on certain nights, all kinds of good seafood along with the rest of the buffet for cheap pricing.

You can never compete with a casino because they will take a loss on the food just to get you in the door. Im shocked the local red lobster is still open because ever since the casino opened the red lobster parking lot is almost always empty.

I always thought they would die out in the Midwest long ago. And when I was in the Navy on the East Coast where we had real seafood places I honestly dont know how they did business. I guess even when you have good burger places some people still go to McDonalds so I guess it shouldnt be that surprising.

"They made CEO a former leader of Krystal and Kona Grill"

Uh, why? Who even knows what Krystal burgers are, and I've legit never heard of Kona Grill.

Anyway, I buy their boxed biscuits all the time, normally a holiday staple, shits so good. I've only been maybe twice, likely once. A main problem was throughout my entire life, they were expensive, as a kid it was probably like a $50 meal for a family, now it's probably like a $100-$150 meal for a family. I took my mom for Mothers Day in 2018 and it cost us like $100 after tip, we both drink water, we had an app, she had a seafood medley and I had lobster mac and cheese and we maybe had an appetizer and some biscuits.

That's an expensive lunch. I get not everyone is on a budget, but you look at those top chains on that WSJ video and it's almost all fast food.

ClayGuida posted...

"They made CEO a former leader of Krystal and Kona Grill"

Uh, why? Who even knows what Krystal burgers are, and I've legit never heard of Kona Grill.

I thought Krystals was the Souths knockoff White Castle? Never been to one or seen one but have heard of them.

ClayGuida posted...

"They made CEO a former leader of Krystal and Kona Grill"

Uh, why? Who even knows what Krystal burgers are, and I've legit never heard of Kona Grill.

they made alot of huge mistakes no one is to blame but the new owners

Idk Whats happening on the the few times Ive went there the food while good was very expansive. With most items costing $20-40. And thats just for the main food and drink.

CADE_FOSTER posted...

yeah the hedge fund that bought them put all the debt into the business and are now losing millions on endless shrimp they screwed up red lobster so bad

So same thing that happened to Asmode? Huge failing Corpo buys successful Corpo to leverage their assets to pay down their loans and then split them off sticking them with the debt?

archizzy posted...

I thought Krystals was the Souths knockoff White Castle? Never been to one or seen one but have heard of them.

im not familiar with that brand. Red lobster was always ok, their coconut shrimp was always decent. But I live in Houston, I can always get better seafood.

LSGW_Zephyra posted...

So same thing that happened to Asmode? Huge failing Corpo buys successful Corpo to leverage their assets to pay down their loans and then split them off sticking them with the debt?

That's capitalism baby. That's how Romney killed Kaybee's Toystore.

CADE_FOSTER posted...

To raise enough cash to make the deal happen, Golden Gate sold off Red Lobster's real estate to another entity in this case, a company called American Realty Capital Properties and then immediately leased the restaurants back.

And on this when interest rates went up they had to pay alot more they fucked up by selling the land off

archizzy posted...

I thought Krystals was the Souths knockoff White Castle? Never been to one or seen one but have heard of them.

They're like White Castle. I like em, but not that often. The onions they use. Man I feel it the next day

Cuticrusader09 posted...

If you are in a place with local seafood restaurants, dont bother, they arent anything special.

Well I live in the middle of the desert far from the ocean so I don't think any seafood place here would be that good anyways

firedoom666 posted...

Well I live in the middle of the desert far from the ocean so I don't think any seafood place here would be that good anyways

Thats just bad timing. A couple hundred million years ago that be right by the ocean. Or under it.

ClayGuida posted...

That's an expensive lunch. I get not everyone is on a budget, but you look at those top chains on that WSJ video and it's almost all fast food.

cost of daily operation between employees, rent and food costs make that number go up.

but can agree, i wouldn't spend that much on a lunch. could go to a steakhouse for half that.

archizzy posted...

I thought Krystals was the Souths knockoff White Castle? Never been to one or seen one but have heard of them.

https://gamefaqs.gamespot.com/a/forum/a/a6872fe2.jpg

Theyre more of a mutually beneficial business arrangement so that neither chain steps into the others turf, so less of an outright knockoff and more of a regional imitator.

Insane prices are reason why they faced negative revenues not just endless shrimps. Olive Garden is fine despite they have endless soups, breadsticks, salads while you can pay for endless pasta card that you can eat load of pasta forever.

Like I mean no one wants to pay 30 buck for Lobster linguine, 27 buck for Admiral's feast etc. Not to mention Hot Platters are f***in expensive too as well as Starters are around $15 that made them most expensive than KFC, LJS, and other casual restaurants. They need to cut half price to save their business ,but it likely won't happen which is due to supplies. I love biscuits and Lobster pizza too.

Seafood is generally more expensive than anything else

Who gives a fuck. It's mediocre seafood and the biscuits you can get in stores. Good riddance losers

orangefire25 posted...

Who gives a fuck. It's mediocre seafood and the biscuits you can get in stores. Good riddance losers

why you so angry son?

Not sure endless shrimp is even a valid reason. Shrimp is insanely cheap. Go to your supermarket, you can get it for like $6 a pound. A pound of shrimp is a fuck ton of shrimp.

ClayGuida posted...

Not sure endless shrimp is even a valid reason. Shrimp is insanely cheap. Go to your supermarket, you can get it for like $6 a pound. A pound of shrimp is a fuck ton of shrimp.

We have people using motorized vehicles to get around because they weigh too much. I have no doubt America could eat a business to death