Red Lobster Preparing To File Bankruptcy

[TTL News 308]

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Per Restaurant Business Online, the seafood-chain, which has around 650 locations across the United States, has struggled in recent years due to leadership troubles and strategic missteps. The company's financial struggles were magnified by economic hardships that have impacted a majority of American businesses since the beginning of the COVID-19 pandemic. 

Thai Union Group made the decision to cut ties with Red Lobster and look for a buyer in January, according to the outlet, which reported that Red Lobster suffered a $33 million loss in 2022.

The outlet attributed those losses to less Americans choosing to eat out at restaurants and an increase in food and labor costs. Red Lobster closed 16 locations, per the outlet.

 

Read more here.

[Zapp Brannigan 137]

3 hours ago, TTL News said:

Read more here.

Just had some red lobster over the weekend and it was pretty good. Love the fact that you can just buy the biscuits by the dozen.

[Chris 2,163]

We haven’t been in a few years and honestly don’t feel like we’ve missed much based on what I remember of our last visit.

Im not surprised, and I think we’ll see this happen to more places as time goes on. We don’t eat out nearly as often as we used to and when we do, we try our best to go to someplace that’s locally owned and operated. 

[Zapp Brannigan 137]

13 hours ago, Chris said:

We haven’t been in a few years and honestly don’t feel like we’ve missed much based on what I remember of our last visit.

Im not surprised, and I think we’ll see this happen to more places as time goes on. We don’t eat out nearly as often as we used to and when we do, we try our best to go to someplace that’s locally owned and operated. 

Yeah I don't frequent to many chain restaurants when we do its mostly Texas Roadhouse. Surprisingly this time I got the red lobster to go and it was better than when we ate in person last year when we went. I also skipped getting lobster because last time it just didn't taste the greatest. This time just went with one of the pick 4 shrimp and it was great.