Posted on 05/14/2024 6:39:00 PM PDT by RomanSoldier19
Restaurant chain Red Lobster could file for bankruptcy protection as early as next week, The Wall Street Journal reported on Tuesday.
People familiar with the matter told the Journal that the company, overwhelmed with hundreds of millions in debt, plans to file a Chapter 11 bankruptcy petition in Orlando before Memorial Day.
Bloomberg previously reported in April that the restaurant company was considering filing for Chapter 11 bankruptcy protection.
(Excerpt) Read more at msn.com ...
Elsewhere the count is 100+. And they are selling off the equipment quickly.
LOL...that is hilarious! Those poor doggies.
They closed my local store. I hadn’t been there in years.
CC
Last time I was in one, about 2 months ago, the price for lunch time fish-and-chips was nearly $20.00. I’ll never go back, and I don’t think this will play well in my small town.
Apparently the Thai seafood company that bought RL sold off the real estate the restaurants sat on (or in), to generate a cash infusion, but then the rent killed the poorer performing restaurants.
(That’s the quickie version — there are much more complete explanations online from people in the biz.)
Probably they should have just sold off the poor performers and consolidated, but that would have reduced the owners’ seafood business, so they were (I suspect) loath to do that.
The company has been in business for decades.
It should have a very small debt burden.
Personally, I prefer independent Mexican restaurants.
The quality is there. And the prices tend to be reasonable.
Yes, I got if first hand from the dynamic leader Joe Biden.
We are labeled as stupid if we don’t notice the economy is roaring upward.
As I recall we have had threads here which mentioned Red Lobster is beloved by people for birthdays and other celebrations, some of which end in physical disagreements which calm down when the police arrive.
https://www.youtube.com/watch?v=s6aJZZY2YOk
Smashes glass over waitress’s head in brawl.
https://www.dailymail.co.uk/video/news/video-1751858/Video-Woman-smashes-glass-waitress-head-Red-Lobster-brawl.html
Red Lobster Rage Investigated (tried to take home plates of endless shrimp deal food)
https://kfor.com/video/police-investigating-alleged-case-of-red-lobster-rage/9444403/
.
Being a native coastal New Englander I am of course biased, but Red Lobster’s seafood was terrible. Never went into one again after my first try.
The claws are taped. Dogs are fine.
(Will we still be able to buy the Cheddar Bay Biscuit mix?)
The cost of restaurant help has gone up about four-fold since Obama took office.
Welcome to Bidenomics.
So it’s true “no actual dogs were harmed during the composition of this post on Free Republic.”🐕🐕
Good.
Heard a comic say “I’m going to dress you up to look like a dog and call Kristi Noem over.”
Scary threat.
My cats would have been playing with those ‘bugs’ - especially the small, really vicious cat.
please let Texas Roadhouse survive..
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.