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Red Lobster Hospitality, LLC is an American casual dining restaurant chain headquartered in Orlando, Florida.The company has operations across most of the United States (including Puerto Rico and Guam) and Canada, as well as in China, Ecuador, Hong Kong, Japan, Malaysia, Mexico, Philippines, Turkey and the United Arab Emirates; as of June 23, 2020, the company had 719 locations worldwide.
Darden Restaurants, Inc. is an American multi-brand restaurant operator headquartered in Orlando, Florida. As of May 2023, the firm owns three fine dining restaurant chains: Ruth’s Chris Steak House, Eddie V's and The Capital Grille; and six casual dining restaurant chains: Olive Garden Italian Restaurant, LongHorn Steakhouse, Bahama Breeze, Seasons 52, Yard House and Cheddar's Scratch Kitchen.
An Olive Garden restaurant in Auburn Hills, Michigan. Example of location with old logo. In 2011, Darden announced that it was going to begin co-locating Olive Garden and sibling chain Red Lobster locations. The new restaurants were designed for smaller markets and had separate entrances and dining areas, but unified kitchen and support areas.
According to the restaurant's website, there are nearly 50 Red Lobster locations in the Sunshine State – 47 to be exact. There are nearly a dozen restaurants in the Central Florida-Orlando area.
For the past decade amidst ownership changes, Red Lobster has taken on debt and entered into a number of long-term leases across its 700-plus locations, which have weighed on its balance sheet.
The pandemic and labor costs aren't the only culprit of Red Lobster's declining profits. Those all-you-can-eat promotions have also caused a toll. Its $20 Ultimate Endless Shrimp deal cost the ...
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