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Red Lobster considering filing for bankruptcy
Posted on 4/16/24 at 6:08 pm
Posted on 4/16/24 at 6:08 pm
quote:
LINK
Seafood restaurant chain Red Lobster is mulling a Chapter 11 bankruptcy filing as it looks to restructure its debt, according to people with knowledge of the matter.
Red Lobster has been getting advice from law firm King & Spalding, said the people, who asked not to be identified discussing a private matter. The dining chain is considering a possible Chapter 11 filing to shed some long-term contracts and renegotiate a swath of leases, the people said.
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Posted on 4/16/24 at 6:09 pm to HailHailtoMichigan!
They will be the first of many, folks simply don't have the spending power that they did just a few years ago.
Posted on 4/16/24 at 6:11 pm to bad93ex
quote:
They will be the first of many, folks simply don't have the spending power that they did just a few years ago.
Alternative explanation: red lobster is awful
Posted on 4/16/24 at 6:11 pm to bad93ex
quote:I think there just isn't any value in going to a chain restaurant like this anymore. You used to be able to get great deals at them but now they just are not worth it
They will be the first of many, folks simply don't have the spending power that they did just a few years ago.
Posted on 4/16/24 at 6:11 pm to HailHailtoMichigan!
quote:
red lobster is awful
Their biscuits are top notch.
Posted on 4/16/24 at 6:14 pm to bad93ex
quote:
folks simply don't have the spending power that they did just a few years ago.
Tired of hearing that. Yet every single airport, hotel occupancy, festivals, concerts and restaurants are packed.
Posted on 4/16/24 at 6:14 pm to dkreller
People who can’t find anything they’re willing to eat at Red Lobster, Olive Garden, etc., are just being unreasonable.
Posted on 4/16/24 at 6:15 pm to HailHailtoMichigan!
When I was a kid, say 7-17, during the 1980s..Red Lobster was a nice restaurant. Now it’s a shithole.
Posted on 4/16/24 at 6:18 pm to bad93ex
quote:
They will be the first of many, folks simply don't have the spending power that they did just a few years ago.
They can at least wait until tax returns come in.
Posted on 4/16/24 at 6:18 pm to bad93ex
quote:
They will be the first of many, folks simply don't have the spending power that they did just a few years ago.
Restaurants are poised to have a massive, record year in sales… eclipsing last year’s record.
The problem is Red Lobster, Fridays and the like are relics and have failed to keep up with tastes and trends, and are often poorly run.
Having said that I’ve always had a soft spot for the Lobster.
Posted on 4/16/24 at 6:20 pm to HailHailtoMichigan!
NOOOO!!! Metairie losing its location was a death knell for good seafood in the NOLA area.
Posted on 4/16/24 at 6:20 pm to TejasHorn
Younger generations have also shunned chains a little more than older ones. I'm not saying that I blame them, but it's definitely a thing.
Posted on 4/16/24 at 6:21 pm to Dawgfanman
quote:
during the 1980s..Red Lobster was a nice restaurant. Now it’s a shithole.
I thought they were part of Darden. Guess they go sold.
Posted on 4/16/24 at 6:22 pm to HailHailtoMichigan!
Never been to Red Lobster.
Posted on 4/16/24 at 6:25 pm to HailHailtoMichigan!
I will hear no slander of those cheddar biscuits.
Posted on 4/16/24 at 6:26 pm to HailHailtoMichigan!
There are still Red Lobsters? I thought they were eaten by private equity firms years ago. They’ve always been terrible.
Posted on 4/16/24 at 6:26 pm to HailHailtoMichigan!
i won't go to Red Lobster again, but it's not because of something they did
Posted on 4/16/24 at 6:28 pm to HailHailtoMichigan!
There’s a certain demographic that would wear out red lobster.
They’ve all since migrated to “the juicy crab” type chains.
They’ve all since migrated to “the juicy crab” type chains.
Posted on 4/16/24 at 6:28 pm to bad93ex
quote:
folks simply don't have the spending power that they did just a few years ago.
Nah. They suck and people are actually supporting better restaurants.
Posted on 4/16/24 at 6:28 pm to fr33manator
quote:
They can at least wait until tax returns come in.
The folks that eat at Red Lobster got their returns back in February.
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