Red Lobster, the casual dining chain that brought seafood to the masses with inventions like popcorn shrimp and “endless” seafood deals, has filed for Chapter 11 bankruptcy protection.
The 56-year-old chain made the filing late Sunday, days after shuttering dozens of restaurants. […]
Sometimes, Red Lobster would lower its prices to compete, a move that was often disastrous. In 2003, the company lost millions of dollars on an all-you-can-eat “Endless Crab” promotion when crab prices rose, Allen said. Twenty years later, the chain did the same thing with an “Ultimate Endless Shrimp” promotion.
On a personal note, I refuse to eat anything you can’t tie to a fence.
You can totally tie shrimp and lobster to a fence.
Gives a great idea for a surrealist art installation, actually.
Yup, that was the image that immediately came to mind, rows of shrimp tied to fences
Happens all the time.
https://i.pinimg.com/originals/2c/f6/58/2cf6585e093f40df86c165c3f656f676.jpg
Lobster, crab, shrimp are all just large insects that live in the sea.
They have an exoskeleton, antennae, six legs etc …. insects man … I tells ya.
All the other sea food is just snake to me.
I don’t eat, cold blooded flesh or bugs.
All three of those are decapods. 10 legs.
Regardless, I don’t eat invertabrates unless breaded and deep fried.
Well, give me enough bread and get me sufficiently fried, and I might eat them too.
I know some people who will be grief stricken.
Myself, not so much.
Let’s just say that the demographic of Red Lobster regulars were of a darker persuasion. Search me as to why? Maybe all those “endless” promotions ?
I know some people who will be grief stricken.
Myself, not so much. Never been wild for seafood, and salmon is right out.
So, you eat dogs, but not chickens?
^^^
And horses…. That’s the only animal I’ve ever tied to a fence
Not a Damned thing wrong with horse meat.
Lean and when smoked..? damned tasty…
Bein Dutch, I’ve eaten it often as sandwhich meat.
WTF would YOU choose: Crickets or Horse meat.??
Folks need to get over their sentimentality especially in the coming months n years….you GONNA wish you had some REAL MEAT.
Hrmm, not chapter 7? that’s interesting.
Their model is broken, and I don’t see it coming back any time soon.
I suspect the owners couldn’t agree on how to restructure and the debt is too high for any more lending. They can’t pull out of the dive. I don’t think it is a broken business model as much as very bad actors within the company enriching themselves with no regard for the overall health of the company. Is Red Lobster a restaurant chain or a distribution center for fishing companies?
$1 billion in Debt, and less than $30 million in cash is not a good combination.
They are asking for $100 million more to stay afloat, but why would anyone supply them since they haven’t been paid since last year
I live just about as far away from the ocean as person can get in this world. No such thing as fresh seafood. Red lobster always seemed like a food poisoning risk.
That’s my wife: we go to a steak place in the prairies, she orders the fish, complains its so-so.
Bunny … see my post below. You’re spot on!
Most of the seafood came in frozen. The fresh fish and live lobsters did not. I worked there for a couple of years.
Their food handling procedures are top notch.
Re, fences.
John Kennedy, Senator from Louisana (knows a little bit about the shrimpin’ industry)
No higher math hear.
https://m.youtube.com/watch?v=gzCGE_RwICE
the only shrimp lobster mussels salmon etc l buy has to been caught Cdn waters
I applaud this in principle, but if your government is willing to put a Canadian stamp on Chinese steel I’d wager there’s quite a few boxes of shrimp under those I-beams.
Golly I hope the executives got their bonuses before this tragedy blindsided them!
FILTHY LIBERALS say Budgets balance themselves, so they will be fine.
Spendy McBlackface Hairdo can save a big voting block of Seniors if he bails out RL.
Make it a Crown Corporation, Call it Red Star Lobster, put cots in the back and a buffet for the homeless and the drug addicted.
It’s not Rocket Surgery
This is a way more awesomer idea than a FILTHY LIBERAL APP that cost us $70 million.
Burn a few critters and you got an All you can eat carbon feast
This one didn’t have a ticker so we don’t have Jim Cramer pumping the stock a week prior. I went to red lobster maybe 2008 and never went back.
My favorite restaurant in Oshawa never had any parking because there was a red lobster next door. That’s how I know most people are idiots.
I know the place you’re talking about. I love their salted lime soda
As a young single person, eating out was affordable. Cost twice as much with a date. Then came family dining, once a year for each birthday. Ouch.
Now there’s no desire to dine out, as home cooking is way better.
No Shit…
Was in Red dear a month ago.
Went to Cora’s for breakfast.
Ordered the big plate breakfast. Coffee, Small milk & Sml OJ.
Plate: $21.95
Coffee: $ 3.55
Sml Milk $ 4.10
Sml OJ $ 4.55
+ GST
I just about fell over – and then they come with a machine and DEMAND 15, 18, 20 or 30% Tips…?
GFY Cora – there will not be a NEXT time at that place ever again.
I didn’t mind the plate of food cost, but bending me over for the drinks..?? THAT pissed me off.
There is a place local to me where the breakfast special for me and my wife with coffee is still under twenty bucks. It wouldn’t have been enough food for a younger me, but with how much I eat now it’s plenty.
That is why my wife and I and a few other family members have stopped eating in restaurants with the possible and very rare celebratory event. Even then, we do NOT order any beverages …. they are stupidly over-priced. Water works just fine.
I can have a beer when i get home.
I hate to see the good restaurants go, but I think their time may be over … fast food will cling for sometime, but I think they will go as well unless they go full robot. Human workers are now unaffordable.
This dilemma has leftist governments to blame. They have distorted everything and everything is now unaffordable.
My rule is … don’t eat shellfish in the Midwest. Ever.
https://youtu.be/Fq4fLLCwz1Q?si=bB86C_Wn4dZfsaHm
From my favorite Kirsten Dunst film: Drop Dead Gorgeous.
This is one of my favorite movies of all time and it is not on Prime or Crave. I love that there were so many great actresses – Brittany Murphy, Denise Richards, Kirsten Dunst and the more mature ladies such as Alison Janey, Kristie Alley and Ellen Barkin.
You’ve got my same tweaked sense of humor. Indeed … the “mature ladies” totally MADE the film … so bloody funny.
The film is right up there with “Best in Show” where the “mature” Fred Willard just slays me … along with all the other “mature” stars. LOL
When you’ve grown (Oysters) and catch your own prawns and crab, restaurant seafood, even on the coast, is sub par. There is the odd exception but they are way above the pricing level of Red Lobster.
Hey, Costanza, the ocean called…
The second link has some amazing stats. An almost “this is how you will run your business” model by insiders. A guarantee toward insolvency. Too bad for the 30,000 employees and shame on Thai Union and the land lords.
Doesn’t anyone monitor economic performance on an ongoing basis, like even daily? When input prices change during a special, stop it before any damage is done. Put in every ad that promotions can end without notice.
What if you are the guy monitoring the economic performance and supplying the shrimp at the same time? More shrimp!
I liked red lobster because I know male lobsters from female and they let me pick mine.
As my father’s family was of Norwegian descent my mom used to cook lutefisk every Christmas when I was a kid. She also cooked a chicken for those of us who didn’t care for boiled cod that had been cured in lye. That turned me off fish forever. It also stunk up the whole house
I learned the difference between English chowder and Welsh chowder. English chowder is made with whole clams, and Welsh chowder is made with clamorgans.
My financial advisor told me a couple of months ago that they expect half of the restaurants in the county to go under in the next year or two. A 40 percent increase in inflation has driven their costs through the roof, and good employees are scarce. Ant the high costs are keeping people at home. It is a vicious circle that will end up in many more bankruptcies.