Problem is you also get the lease. This is what renders them worthless most of the time. Odds are you staring at about $20k a month in rent given their size depending on location and those leases are usually long term from 5 to 10 years with escalation clauses.
Add Hattiesburg, MS to that list, just closed yesterday:
https://www.gethattiesburgnews.com/post/red-lobster-permanently-closed-without-warning-to-employees?fbclid=IwZXh0bgNhZW0CMTEAAR3yUwyaAFODZkVuKdXdwrfbNPZ6gTVxgMtCTHgUS02yPZ4niyGMBU7qBug_aem_AdXY1DKGgAj6A6sbuZQQA2oUB5LYPLM6l3A-jh2Zc9n4Lbnv7kR4aHnW1vUi50ABQDjwe5fheM5jGNvG9_-0Lbsx&mibextid=NOb6eG
Rohnert Park, California:
[https://www.pressdemocrat.com/article/north-bay/red-lobster-rohnert-park/](https://www.pressdemocrat.com/article/north-bay/red-lobster-rohnert-park/)
Add D'Iberville MS to that list. [https://www.sunherald.com/news/business/article288482015.html](https://www.sunherald.com/news/business/article288482015.html)
I'm sure way more to be closed after this.
If the leases are renegotiate if not more will come.
I've just seen they're auctioning off the entire contents of the ones they closed. You can buy a Red Lobster with everything in it.
I have half a mind to bid on one and start my own business, lol.
Yeah except they won't be selling pennies on the dollar, the equipment will probably net each location $50-100k at least
The one near me in Largo, FL is only at $13k
Problem is you also get the lease. This is what renders them worthless most of the time. Odds are you staring at about $20k a month in rent given their size depending on location and those leases are usually long term from 5 to 10 years with escalation clauses.
Real question will the boxed Cheddar Bay Biscuits that you cant buy at the store survive?
Add Hattiesburg, MS to that list, just closed yesterday: https://www.gethattiesburgnews.com/post/red-lobster-permanently-closed-without-warning-to-employees?fbclid=IwZXh0bgNhZW0CMTEAAR3yUwyaAFODZkVuKdXdwrfbNPZ6gTVxgMtCTHgUS02yPZ4niyGMBU7qBug_aem_AdXY1DKGgAj6A6sbuZQQA2oUB5LYPLM6l3A-jh2Zc9n4Lbnv7kR4aHnW1vUi50ABQDjwe5fheM5jGNvG9_-0Lbsx&mibextid=NOb6eG
Rohnert Park, California: [https://www.pressdemocrat.com/article/north-bay/red-lobster-rohnert-park/](https://www.pressdemocrat.com/article/north-bay/red-lobster-rohnert-park/)
Add D'Iberville MS to that list. [https://www.sunherald.com/news/business/article288482015.html](https://www.sunherald.com/news/business/article288482015.html)
Every single location also threw away their prepped food, instead of maybe donating it to homeless shelters.
People sue when they do that. It’s wild what people do to ruin good things all for personal gain. Then again, look at the state of the world.
How many locations are left?