News Well that was quick! Red Lobster closings

[I Am Legion]

Red Lobster used to be a place for affordable medium-low quality seafood that was loved by certain groups for the specials like all you can eat and heavy fried and butter drenched foods. The price of goods killed the model as now they would have to charge so much for meals that the buyer base that was their bread and butter could no longer afford it. I worked for them all through High School. Back in the day that place could really pack it in. I got paid 6.25 an hour to wash dishes, bus boy, then 7.50 to be a fry cook. Almost 80% of the menu was fried. As a bar tender and server there I made 200-300 a night though. Worst customer base imaginable, but back then that was decent money. The volume was incredible, turning tables all night long all the way until close. Funny thing is almost NOTHING was fresh. Shrimp and crab legs came in frozen boxes. So did all the meats. So it's not like a fresh seafood place relying on catches of the day.

 

[Kona Bear]

“Last summer, Red Lobster made $20 endless shrimp a permanent menu item.

Endless shrimp was a successful annual limited-time offer for Red Lobster for 20 years. But Red Lobster’s latest major shareholder, Thai Union, a Bangkok-based canned seafood company, saw the promotion as a way to sell off the mountains of shrimp it was catching and turned it into an everyday item. (Thai Union became Red Lobster’s largest investor in 2020.)

The change cost Red Lobster $11 million.”


https://www.yahoo.com/finance/news/red-lobster-misguided-endless-shrimp-160202989.html

 

[BEATDOWNS]

I remember taking someone there and they ordered the all you can eat Shrimp as did I and they didn't get more Shrimp! That really annoyed me at the time. lol

 

[Brampton_Boy]

Red Lobster is one of the few restaurants my mom will actually eat at, so their bankruptcy is disappointing news. I have fond memories of the Red Lobster in my hometown, but to another poster's point, it simply got too expensive for the quality of food they were putting out.

Last time I went, it was almost $200 for 4 adults - it doesn't sound so bad until you realize that most of what you ate was low grade boxed fish/shrimp.

 

[ObsoleteSoul]

I can see how all you can eat shrimp screwed them. All the tradesmen going for lunch and getting that and a water???? Us fellas royally fucked them… Shame, as RL was an ok place for a chain seafood place

 

[mixmastermo]

“Last summer, Red Lobster made $20 endless shrimp a permanent menu item.

Endless shrimp was a successful annual limited-time offer for Red Lobster for 20 years. But Red Lobster’s latest major shareholder, Thai Union, a Bangkok-based canned seafood company, saw the promotion as a way to sell off the mountains of shrimp it was catching and turned it into an everyday item. (Thai Union became Red Lobster’s largest investor in 2020.)

The change cost Red Lobster $11 million.”


https://www.yahoo.com/finance/news/red-lobster-misguided-endless-shrimp-160202989.html

I can see how all you can eat shrimp screwed them. All the tradesmen going for lunch and getting that and a water???? Us fellas royally fucked them… Shame, as RL was an ok place for a chain seafood place

OK I really outdid myself in my last post by throwing in a total of 6 fish puns in just one train of thought. It's time I snapper out of it and get serious.

This all you can eat shrimp thing is a red herring. The news says it cost them $11 million. They were $1 BILLION in debt.

There are 989 million other reasons they are underwater.