21 votes

Red Lobster | Bankrupt

17 comments

  1. [9]
    zod000
    Link
    I'm not sure I've enjoyed anything they sell other than the cheddar biscuits in decades.

    I'm not sure I've enjoyed anything they sell other than the cheddar biscuits in decades.

    12 votes
    1. [6]
      vord
      (edited )
      Link Parent
      I remember as a rural child of the 80s/90s absolutely loving their popcorn shrimp. I have not been as an adult, because I moved to locations with better options than the Olive Garden of seafood....

      I remember as a rural child of the 80s/90s absolutely loving their popcorn shrimp.

      I have not been as an adult, because I moved to locations with better options than the Olive Garden of seafood. Olive Garden is one of the only major restraunt chains of my youth that still occassionally gets my money though. Sometimes, you just want an endless delicious salad with a shitty pasta dish.

      8 votes
      1. [5]
        ebonGavia
        Link Parent
        I respect your opinion but, no, I never want shitty pasta šŸ˜. As far as OG goes, Americans don't know what pasta is, so I can understand why they love OG.

        you just want an endless delicious salad with a shitty pasta dish

        I respect your opinion but, no, I never want shitty pasta šŸ˜.

        As far as OG goes, Americans don't know what pasta is, so I can understand why they love OG.

        2 votes
        1. [4]
          widedub
          Link Parent
          I don't believe that most Americans are fooled by the "Authentic Italian" marketing. There's a huge Italian influence through large swaths of the country and exposure to more traditional fare is...

          I don't believe that most Americans are fooled by the "Authentic Italian" marketing. There's a huge Italian influence through large swaths of the country and exposure to more traditional fare is not rare. Instead, I suggest that the draw to Olive Garden is that it is cheap. You can feed a large family to the tits for a predictable price and mostly guarantee that everyone will have an option that makes them happy. Pair that with the idea that people like to eat the foods from their childhood and they can (and arguably have) manufacture something resembling a loyal base. I'm lucky enough to have better options near by but I get the appeal

          11 votes
          1. [3]
            DefinitelyNotAFae
            (edited )
            Link Parent
            It also has the sheen of "fancy" on it. It is many families' "nice" meal location. Because it's still affordable (or was), and ubiquitous, and if you're from a smaller town or can eat out only on...

            It also has the sheen of "fancy" on it. It is many families' "nice" meal location. Because it's still affordable (or was), and ubiquitous, and if you're from a smaller town or can eat out only on special occasions it felt worth of that. The servers in button down shirts feel like a more upscale restaurant just because of their uniforms.

            It was many people's first "nice restaurant" and retains that emotional charisma for many folks.

            Of course now a lot of the lower tier of full service restaurants are struggling so I'm not sure how OG is doing.

            Edit: typos

            7 votes
            1. [2]
              chocobean
              Link Parent
              I think Swiss Chalet is also like that for a lot of Canadians? I've only been maybe three times in as many decades, and the food is aggressively mediocre but the people who enthusiastically took...

              I think Swiss Chalet is also like that for a lot of Canadians? I've only been maybe three times in as many decades, and the food is aggressively mediocre but the people who enthusiastically took me all three times were like, cultist level fond of the chain and couldn't believe I don't also frequent. I would have been so much happier with a roast chicken from Costco.

              3 votes
              1. DefinitelyNotAFae
                Link Parent
                I've never even heard of Swiss Chalet! But it sounds similar yeah. If it represents your realistic top tier and it was your top tier you see it as nice and you form an emotional attachment to it.

                I've never even heard of Swiss Chalet! But it sounds similar yeah. If it represents your realistic top tier and it was your top tier you see it as nice and you form an emotional attachment to it.

                3 votes
    2. [2]
      Mendanbar
      Link Parent
      BTW, the cheddar biscuits are super easy to replicate. In fact, the recipe is on the back of the Bisquick box.

      BTW, the cheddar biscuits are super easy to replicate. In fact, the recipe is on the back of the Bisquick box.

      8 votes
      1. zod000
        Link Parent
        Yeah, I've made more than my share at home. They actually sell a Red Lobster Cheddar Bay Bisbuit box mix at grocery stores as well and they are quite decent. I was more stating that Red Lobster's...

        Yeah, I've made more than my share at home. They actually sell a Red Lobster Cheddar Bay Bisbuit box mix at grocery stores as well and they are quite decent. I was more stating that Red Lobster's core competency wasn't in being an actually good seafood restaurant, but more like a seafood themed Chili's or TGI Fridays and that the biscuits were their best item IMO.

        5 votes
  2. [3]
    post_below
    Link
    I didn't watch the video but I assume they talk about how private equity bought the company, then sold off all the land the restuarants were on, and then leased it back to them, raising costs...

    I didn't watch the video but I assume they talk about how private equity bought the company, then sold off all the land the restuarants were on, and then leased it back to them, raising costs dramatically

    And then later a lot of the media dutifully reported they're going bankrupt because of all you can eat shrimp, rather than raiders selling off billions in assets.

    The real story is also getting reported though.

    12 votes
    1. cfabbro
      (edited )
      Link Parent
      LOL, yep. Spot on. From the tags: golden gate capital, private equity, real estate, leaseback, thai union, thailand, shrimp, all you can eat :P

      LOL, yep. Spot on. From the tags: golden gate capital, private equity, real estate, leaseback, thai union, thailand, shrimp, all you can eat :P

      5 votes
    2. widedub
      Link Parent
      This initial endless shrimp = bankruptcy style of reporting annoys the piss out of me. I'm sure it gets more clicks but they don't even bother to bury the lede and now we have the type of false...

      This initial endless shrimp = bankruptcy style of reporting annoys the piss out of me. I'm sure it gets more clicks but they don't even bother to bury the lede and now we have the type of false perception that lends credence to a fake news narrative. I understand the need to simplify a complicated topic for a mass audience but this doesn't feel like that...it's deceptive

      5 votes
  3. [2]
    Thrabalen
    Link
    In the early 90s, I was reunited with my biological mother. I flew out to see her, and the first stop after the airport was a meal at Red Lobster. That remains my only visit to that franchise,...

    In the early 90s, I was reunited with my biological mother. I flew out to see her, and the first stop after the airport was a meal at Red Lobster. That remains my only visit to that franchise, despite having a fondness for seafood. The namesake lobster having the mouthfeel of rubber might have something to do with that.

    Needless to say, I'm surprised they're still around.

    6 votes
    1. zod000
      Link Parent
      Oddly, they used to have live lobsters that they cooked there (maybe they still do), but they just didn't cook them well.

      Oddly, they used to have live lobsters that they cooked there (maybe they still do), but they just didn't cook them well.

      6 votes
  4. [2]
    Deely
    Link
    Description of video. (actually I have zero idea what Red Lobster is)

    Description of video. (actually I have zero idea what Red Lobster is)

    Since the late 1960's, Red Lobster has grown to become an American seafood institution with over 650 restaurants and tens of thousands of employees. It's also one of the most successful casual restaurant chains to ever exist. So it was pretty surprising to many when they filed for Chapter 11 Bankruptcy in early 2024. However while many in the media reported on the famous Endless Shrimp as the culprit, the truth as to how this company fell so quickly is a bit more complicated. Join me today as we find out how this iconic chain ultimately declared bankruptcy.

    5 votes
    1. ebonGavia
      Link Parent
      A super trashy "seafood" "restaurant" that people went to for everything except the seafood (basically, a biscuit restaurant).

      what Red Lobster is

      A super trashy "seafood" "restaurant" that people went to for everything except the seafood (basically, a biscuit restaurant).

      6 votes
  5. nul
    Link
    My family and I went to our local Red Lobster last weekend for Fatherā€™s Day. It was very hot in the restaurant like their AC was broken or close to it. It took 15 minutes for the waiter to show...

    My family and I went to our local Red Lobster last weekend for Fatherā€™s Day. It was very hot in the restaurant like their AC was broken or close to it. It took 15 minutes for the waiter to show up. It was another 15 minutes and we still didnā€™t even have our waters. And we came early for dinner so it wasnā€™t like they were super busy. The table next to us had a waitress and they were being waited on very well. We ended up leaving since we sat for 30 minutes, and didnā€™t even get a water in that time. We went to Chiliā€™s and enjoyed our meal.

    Red Lobster is fucked.

    5 votes