Red Lobster Chain Goes Bankrupt After Unlimited Shrimp Deal

[Arctic Fox]

Not been to one in years, but hope they come back after a restructuring

[Hape2Bhr]

Not been to one in years, but hope they come back after a restructuring

Hmmm...I thought most people on this forum are epicureans and would not enter a Red lobster.

[Arctic Fox]

Hmmm...I thought most people on this forum are epicureans and would not enter a Red lobster.

I'm Virgo, but I don't let astrology get between me and a salty bread roll

[Stu from NYC]

Just wish I did not find out how unhealthy their cheese biscuits are

[ThirdOfFive]

Just wish I did not find out how unhealthy their cheese biscuits are
Like life. Everything really fun is either immoral, illegal, or fattening.

[Bay Kid]

Just wish I did not find out how unhealthy their cheese biscuits are

My doctor told me if the food taste good then it isn't good for you.

[Caymus]

Just wish I did not find out how unhealthy their cheese biscuits are

Fat and salt are key to good tasting food. I remember Anthony Bourdain writing about the massive amounts of butter that high end restaurants use.

[EastCoastDawg]

Fat and salt are key to good tasting food.

Another urban myth.

There are many herbs and spices which we can add to our food which are far less damaging than over-doing the salt (and are often actually beneficial) but it is our laziness that makes us reach for the salt instead.

Food manufacturers know that we are addicted to the stuff so add it in copious quantities whereas they, too, should be using healthier alternatives.

No-one wants a nanny state, but anything that contributes to 1 in 10 deaths in the USA should be more closely controlled. Think about this next time you're shocked at your health insurance premiums.

[Stu from NYC]

Another urban myth.

There are many herbs and spices which we can add to our food which are far less damaging than over-doing the salt (and are often actually beneficial) but it is our laziness that makes us reach for the salt instead.

Food manufacturers know that we are addicted to the stuff so add it in copious quantities whereas they, too, should be using healthier alternatives.

No-one wants a nanny state, but anything that contributes to 1 in 10 deaths in the USA should be more closely controlled. Think about this next time you're shocked at your health insurance premiums.

So very true. Watch food prep shows and be amazed at what goes into what they serve

[JerryLBell]

I grew up loving shrimp anywhere I could get them, including Red Lobster. But then I moved to Florida and had local, fresh-caught shrimp. There is no comparison. I can barely eat shrimp at RL any more unless it's the coconut shrimp, where I am enjoying the fried coconut batter more than I am the shrimp. Their fish & chips and fish sandwiches are pretty good to me and their other fish can be good. Their crab legs can be OK (other than too small, but that's true everywhere due to over-harvesting crabs) but the preparation seems hit-or-miss. The same with their lobster. In all, RL is just above mediocre for me. My wife and I go now only when we're hungry and happen to be close to one. They're never too busy to seat us and the wait staff around here are generally pretty good. I feel bad for the staff at the Leesburg location, which has closed.

[Ignatz]

It was a bummer to see the Leesburg location closed last month.

Read today that the Red Lobster location in TV may be in jeopardy of closing as well:

Nearly 130 more Red Lobster restaurants are in danger of closing: See list of locations (https://www.yahoo.com/finance/news/nearly-130-additional-red-lobster-131949393.html)

[Pairadocs]

Just wish I did not find out how unhealthy their cheese biscuits are

That's the truth. The day I actually read the details was a dark day indeed ! How horrifying that one could actually eat in one basket of biscuits more salt than a human body should have in a month, or more calories than one "needs" for a week. Check out the boxes of R.L. cheddar bay biscuit mix in the stores.... not much better except at home you "could" dispense with the melted butter and herbs that are soaked into them before serving ! Wish I didn't know now what I didn't know then..... was that Bob Seger ? LOL !

[Pairadocs]

So very true. Watch food prep shows and be amazed at what goes into what they serve

People just have to rely on themselves, be informed and make judgments. Deep down most people know "restaurant food", fast food to five star, is not optimal for health. But we've always had these juxtapositions; smoking "bad" but once HIGHLY advertised, even targeting teens with pictures of having the BEST times boating, bike riding, at the beach, everything better with cigarettes, same with beer. Now it's sugar, another substance that has always been around, but never consumed in the quantities of today. Now you can't pick up a product, examine the label for "sugars" and SEE the natural content listed, and THEN ADDED sugars ! This often exceeds 10 or even 12 times the grams naturally present. It's pretty shocking, the government is very "concerned" as it is believed that sugar (an abundance of sugar) contributes to diabetes, several cancers, heart and vascular conditions....and many other medical conditions. But is it up to the government to be our "parents", to "allow" or disallow soda to be sold ? Average cola 37 grams, or about almost 9 teaspoons of sugar (8.75). How many of us go for a burger, or out for pizza, and drink ONLY 12 oz. 37 grams, of cola ? Up to us to reject unhealthy choices. However, it is difficult when you find things like yogurt, ketchup, mustard (???), even some cans of beans, most popular breakfast cereals (raisin bran sounds VERY healthy....not !), and many grocery items most would never suspect contain sugar, DO ! Law requires label disclosure but, how many really read them ? Plus, it's impossible to completely avoid eating prepared foods and restaurant food in modern life. Can't go to a double headed and not eat all day long, and certainly not permitted to bring on healthy foods in.... LOL ! At hotel and cruise ship buffets, even STEAMED vegetables are loaded with salt. Very difficult to "eat healthy", takes more dedication than I can usually summon up... especially with a basket of Red Lobster biscuits or Olive Garden bread sticks !

[Pairadocs]

It was a bummer to see the Leesburg location closed last month.

Read today that the Red Lobster location in TV may be in jeopardy of closing as well:

Nearly 130 more Red Lobster restaurants are in danger of closing: See list of locations (https://www.yahoo.com/finance/news/nearly-130-additional-red-lobster-131949393.html)

Just last weekend an employee here at the villages location told us a new, higher priced, menu is coming soon ! ?

[Vermilion Villager]

This had nothing to do with how many shrimp you could eat in one sitting.
Red Lobster was bought by venture capitalists Golden Gate Capital and that's where the death spiral started. Golden Gate Capital spun off its real estate assets in a transaction known as a sale leaseback agreement. Red Lobster had long owned its own real estate but would now be paying rent to lease its restaurants. As the land became more valuable the leases payments continue to increase. Red Lobster became stuck with leases it no longer could afford to pay. Now with bankruptcy Golden Gate capital is free to sell the land… Which is what they really wanted to do all along. Welcome to the American way!

[JP]

This had nothing to do with how many shrimp you could eat in one sitting.
Red Lobster was bought by venture capitalists Golden Gate Capital and that's where the death spiral started. Golden Gate Capital spun off its real estate assets in a transaction known as a sale leaseback agreement. Red Lobster had long owned its own real estate but would now be paying rent to lease its restaurants. As the land became more valuable the leases payments continue to increase. Red Lobster became stuck with leases it no longer could afford to pay. Now with bankruptcy Golden Gate capital is free to sell the land… Which is what they really wanted to do all along. Welcome to the American way!

I believe Golden Gate is a Thailand company that specialized in catching shrimp and had no idea how to run restaurants. Buying Red Lobster was a built in market for selling their shrimp.

[Skip]

I like Red Lobster.

[Stu from NYC]

I like Red Lobster.

Than you had best go before it closes as I keep hearing

[blueash]

This had nothing to do with how many shrimp you could eat in one sitting.
Red Lobster was bought by venture capitalists Golden Gate Capital and that's where the death spiral started. Golden Gate Capital spun off its real estate assets in a transaction known as a sale leaseback agreement. Red Lobster had long owned its own real estate but would now be paying rent to lease its restaurants. As the land became more valuable the leases payments continue to increase. Red Lobster became stuck with leases it no longer could afford to pay. Now with bankruptcy Golden Gate capital is free to sell the land… Which is what they really wanted to do all along. Welcome to the American way!

Thank you for posting the real reason Red Lobster is in big trouble. But when you typed "Venture Capitalists" you misspelled the word Vulture.

[bmcgowan13]

This had nothing to do with how many shrimp you could eat in one sitting. Red Lobster was bought by venture capitalists Golden Gate Capital and that's where the death spiral started.!

How private equity rolled Red Lobster (https://www.nbcnews.com/business/consumer/private-equity-rolled-red-lobster-rcna153397)

Interesting post Vermilion Villager... I had not heard that before and I went down a rabbit hole reading up on Golden Gate.

Thanks for shedding some light on this..

[fdpaq0580]

Thank you for posting the real reason Red Lobster is in big trouble. But when you typed "Venture Capitalists" you misspelled the word Vulture.

Love it! So true. 😂