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May 20, 2024 at 3:23 PM. Red Lobster, the casual dining chain that brought seafood to the masses with inventions like popcorn shrimp and “endless” seafood deals, has filed for Chapter 11 ...
In 2023, Red Lobster was further knocked off balance by its $20 endless shrimp offer that became much more popular with customers than anticipated. The all-you-can-eat menu option was previously a ...
Red Lobster is in trouble. Its solution: all-you-can-eat lobster, just months after an endless shrimp promotion led to deep losses that the company is still trying to dig out of. In celebration of ...
Now the restaurants can't pay the rent. When a private-equity firm bought Red Lobster in 2014, it sold the land under the restaurants for $1.5 billion. Now the restaurants can't pay the rent.
Red Lobster gambled that offering customers all the shrimp they could eat would give the struggling chain a desperately needed boost. Instead, it now blames the deal for its deepening financial woes.
The following year, Darden sold Red Lobster to Golden Gate Capital, a private equity firm, for $2.1 billion. To help fund the deal, Red Lobster spun off its real estate assets in a transaction ...
Red Lobster, the seafood chain whose cheddar biscuits and bottomless shrimp specials have long captivated the American palate and pocketbook, filed for Chapter 11 bankruptcy protection Sunday. The ...
Even though Red Lobster recently shut down 50 locations across the U.S., the company has said that its restaurants will remain open during the Chapter 11 process. Don't miss