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Red Lobster's Plan to Save Itself Ended
Up Destroying It

Original Article

Posted By: Hazymac, 5/15/2024 7:51:49 AM

I’ve never been to Red Lobster, but they’re everywhere, at least for now. It’s the nation’s largest seafood chain, and it got cooked over various factors, but one consumer deal appears to have been the straw that broke the camel’s back: the “all you can eat” shrimp deal. The corporate brass thought this pitch could be the draw to turn around the chain. Instead, it cost them millions, leading to yesterday’s news that Chapter 11 bankruptcy is imminent and will be filed before Memorial Day. Hundreds of millions of dollars in debt are set to be restructured, with dozens of locations slated for closure (via WSJ): (X)


Dead Lobster

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Reply 1 - Posted by: seamusm 5/15/2024 8:10:00 AM (No. 1718184)
'All you can eat' was a recipe for catastrophe. One should never underestimate the reality that Americans are fat for a reason.
28 people like this.

Reply 2 - Posted by: southernboy 5/15/2024 8:20:34 AM (No. 1718189)
We had a local catfish place that went down for the same reason. Some people can eat enormous amounts of food. Gluttony isn't just a word in the dictionary!
30 people like this.

Reply 3 - Posted by: Dodge Boy 5/15/2024 8:26:42 AM (No. 1718192)
FTA - "Restaurant chains are struggling with declining customer traffic as consumers, especially low-income diners, pull back on spending." Huh. But biden the cheater, the dims, and the msm keep saying the economy and wage earners are doing just fine.
19 people like this.

Reply 4 - Posted by: franq 5/15/2024 8:27:04 AM (No. 1718193)
I was at one many years ago. I felt the portions were small.
6 people like this.

Reply 5 - Posted by: chumley 5/15/2024 8:28:10 AM (No. 1718196)
I was talking to the manager of an all you can eat buffet about that some years ago. He said they make plenty of money because most people eat far less than they paid for, especially old people. He said they do get some customers who try to clean the place out, but they are more than offset by those who just nibble.
10 people like this.

Reply 6 - Posted by: 3XALADY 5/15/2024 8:39:18 AM (No. 1718199)
I was at a Golden Corral for breakfast some months ago and I saw a very large man eat three piled high plates of crispy fried bacon. They didn't make any money off of him that day. And by his size, I would say he lived close to the restaurant and ate there quite often.
15 people like this.

Reply 7 - Posted by: bubby 5/15/2024 8:39:48 AM (No. 1718201)
The "all you can eat" Golden Corral crowd, between ship cruises, visited Red Lobster! That's what actually happened!
10 people like this.

Reply 8 - Posted by: Rotten in Denmark 5/15/2024 9:05:23 AM (No. 1718214)
It’s partly my fault. The wife and I would eat there maybe twice a year, but only on the all ya want shrimp days. Maybe has 2 re-orders after the first. Sri…
4 people like this.

Reply 9 - Posted by: walcb 5/15/2024 9:13:04 AM (No. 1718222)
Our local in Danville, IL closed. I really enjoyed the food, portions were plenty adequate, service was good, prices were reasonable--will miss it. Their mistake was that on all you can eat shrimp you could also carry out what you didn't eat--but I don't know how you can counter the act of bloating yourself up and then carrying out another portion.
6 people like this.

Reply 10 - Posted by: JHHolliday 5/15/2024 9:34:51 AM (No. 1718238)
I ate at one the first time years ago in Florida. I thought it was great but maybe they got fresher seafood since they were closer to the source. I later ate once or twice at our local RL. Meh. Just wasn't as good. Maybe imported shrimp and fish? That and the fact as mentioned that regular folks have had to cut back on dining out. FJBenomics has put the squeeze on the middle class. The moneyed people will still go to the upscale restaurants but I think there is some cutting back even there. The restaurant business, take-out or dining in is still a luxury for a lot of people.
6 people like this.

Reply 11 - Posted by: Swo 5/15/2024 9:42:18 AM (No. 1718244)
HA! Last time I dined at RL was the day before Memorial Day 1984. I was in the hospital the following three days with gut pain. Never again.
3 people like this.

Reply 12 - Posted by: jdano 5/15/2024 9:46:02 AM (No. 1718249)
Twice I went, but the long line of thugs made me uneasy. Never got to try the place.
2 people like this.

Reply 13 - Posted by: Rumblehog 5/15/2024 9:49:12 AM (No. 1718253)
According to their corporate website, the "Endless Shrimp" campaign began in 2004... that's a lot of Decapod Crustaceans past the facial orifice and down the gullet by now. What recently has happened to cause a decades in the making debacle to finally reach its ne plus ultra? Could Red Lobster be yet another victim of, "Bidenomics?"
4 people like this.

Reply 14 - Posted by: Hazymac 5/15/2024 9:49:17 AM (No. 1718254)
One of my late friends from Nashville was a lifelong glutton who always weighed over 300, and in the last decade of life surpassed 400. He had the greatest personality of anyone I ever met, but he couldn't stop eating. There was a Chinese restaurant seven floors below his condominium unit with an "all you can eat" buffet, run my Mrs. Wu. After eating three full plates of food, he was ready to load up another plate when Mrs. Wu came up to him and said, "You've been at buffet too long. You go now." My obese friend found that situation good for a laugh. "You go now!"
12 people like this.

Reply 15 - Posted by: snakeoil 5/15/2024 10:27:25 AM (No. 1718296)
Was a great place to eat. Unlike the other big seafood chain they served booze. But my days of booze and eating at restaurants are over. Due to health and crime reasons. There was a comedian who had a skit of going to a Chinese restaurant for the all you can eat buffet. At the end the manager came over and said in a thick Chinese accent: Eat salad you fat MFer. Not to go off topic but why is it you can refer to food as Chinese, Japanese, Thai, etc. but if you refer to a person from those countries the politically correct term is Asian?
5 people like this.

Reply 16 - Posted by: MickTurn 5/15/2024 10:51:10 AM (No. 1718320)
Obviously run by Leftist MORONS!
1 person likes this.

Reply 17 - Posted by: earlybird 5/15/2024 11:23:36 AM (No. 1718354)
Chapter 11 is a plan of reorganization. They are not dead yet.
6 people like this.

Reply 18 - Posted by: rytwng 5/15/2024 12:09:14 PM (No. 1718392)
It used a bargain to eat there bit there prices got to high.
1 person likes this.

Reply 19 - Posted by: DVC 5/15/2024 12:59:11 PM (No. 1718432)
We had an 'all you can eat shrimp' place in one city where I visited on business a number of times. Somewhere in Maryland, near Gaithersburg, IIRC. I was young and we ate an AMAZING amount of shrimp, like half a normal paper grocery sack of hulls. It was a simple place, brown paper with wax backing on the tables, and they just dumped the boiled shrimp in front of you, no plate, with a brown grocery sack for the hulls, top rolled down to keep it open. Great shrimp. I can see how this would be very expensive with the current price of shrimp. Back in the 70s in Maryland they brought it right from the docks. Most of Red Lobster it has to be shipped in, and must cost far, far more than those coastal restaurants pay.
4 people like this.

Reply 20 - Posted by: bpl40 5/15/2024 3:10:26 PM (No. 1718499)
Many people who frequent Red Lobster are not in the habit of paying for what they get.
3 people like this.

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