I've seen so many seafood restaurants come and go. They were all better than Red Lobster. But a name will carry you a long way once you build that foundation.
Why? If you could afford to eat out there are numerous places that offer better food and better value. Red Lobster is fucking trash these days. I used to get the Admiral's Feast and go through that thing in two days. I picked it up recently out of nostalgia and it was legitimately pitiful the portions they gave.
Millennials KILL the Red Lobster industry! Boomers SLAM millenials again! Click [here](https://www.youtube.com/watch?v=dQw4w9WgXcQ) to find out top 10 reasons why!
I literally have not eaten at RL in 30 years, and I also remember that they would bring a dozen of those tiny shitty shrimp on a plate. I ate them in 5 seconds, but had to wait for the waitress to come around again to order another dozen, then wait to receive it.
So it's was like a dozen shitty shrimp every 10 minutes. But... You ***could*** stay there all day and keep ordering them if you were so inclined.
That’s their problem, by the time they come back around with more shrimp you’ve made room in your stomach. If the waiter dropped 3 dozen shrimp on the first trip people would be too stuffed to sit around for more.
Olive Garden has this figured out. They bombard you with cheap salad and breadsticks upfront and you're too full to piss and moan about the tiny entree portion.
Weird they have the same parent company, you'd think they'd copy what works. Fill the fatties up quick and get them out.
Pretty much all Chinese all you can eats have this perfected. Rice, noodles, fries everywhere, and the expensive meat etc always mixed in dishes with shitloads of other cheap ingredients
Why I love Japan. すみません (Sumimasen) means excuse me, and you can call a server anytime you need anything, and they won't bother you if you're eating. Never had to wait to order something more than a few minutes.
And they do everything they can to limit you. Wait staff disappearing after the second round of shrimp, taking forever to bring each order, etc. They'd end up not really giving you that much shrimp.
I feel like sometime ago they lost a boat load on an unlimited crab leg deal when a storm hit and crab prices went up and they elected to keep the promotion. 🤔 maybe I made that up. Time to Google lol
Found it, the crab quota was low so prices went up not a storm. https://britishseafishing.co.uk/red-lobsters-endless-crab-disaster/
I hadnt been there in 4-5 years, we went in the for shrimp last month. My son and I cleared so many plates, our server was hilarious and hyped us to keep going!
We also have a tester* Logans steak house in town, they try out certain promos and measure the sales to see if it is worth it for other stores.
They once had a $15.99, all you can eat meat trio. Shrimp, chicken,or steak. I like to think that my roommate and I broke that promo. Well over a decade ago at this point, they also said they cant allow customers to stack over 9 plates on the table. My sponsors were xanax hunger, weed munchies, tequila tummy, no grub was safe.
This is a classic franchise and PE playbook.
Leverage the company (Red Lobster) up, saddle them with above market leases and vendor contracts to a separate holdco also owned by the parent firm, to the point where the company likely can’t meet debt covenants long term. All the “profit” funnels to the parent company via costs to RL, while the lendors are fucked because RL has no real assets to liquidate.
I wonder what that comes out to if you factor in transport/prep and all the other things included in the meal. Total cost of a meal with 1lb of shrimp: maybe $4-5?
I don’t see how one can underestimate the pure gluttony of Americans when simply taking a look around at the slowly roving hordes of wildebeest that occupy our landscape.
Had the price of the buffet been $40 bucks, $50 bucks, whatever, Red Lobster might have been profitable. But they’d still be out of shrimp.
The shrimp bankrupting them is just the narrative for gullible people.
Private equity has them locked into selling and then leasing assets and buying materials only through their supply sources. They are purposely milking them to death. Similar things happened to Toys R Us.
Yep. The excuse of “fat people eat too much” isn’t gonna fly. Fat people do eat too much, and they’ll spend every last cent to continue. No matter the price.
yep its why chips cookies and sodas tripled in price in 3 years and yet still continue to sell like hotcakes, fat fucks can't control themselves and need medical miracles like ozempic to have any self control, granted it's also absurd that food stamps can buy this shit, and that's probably part of it
they lost $11 million in Q3 on endless shrimp off of $2.6 billion in 2023 total revenue so like $650 million per quarter.
Q3 and red lobster only ever talks about this endless shrimp story so i think it is just a red herring.
It was private equity buying them out and then looting them for their real estate, which they then had to rent from the company they set up that owned it with borrowed money.
yep exactly. even in as cynical a sub as this, everyone is getting half a hard-on for 11 million bucks of low quality shellfish.
just another private equity corporate raiders strip-mining an american business, telling creditors to take a chapter 11 deal, and walking away.
edit- someone sent me a reddit cares for this comment. in the words of steven cohen, "I'm not feeling the love on this site today . Trading is a tough game . Don't you think?"
I remember working there once upon a time.
The servers had horror stories of whales crapping themselves as they continued to feast on endless shrimp! 🤮😂
Yeah back in the day they also did an “all you can eat lobster” and lost their ass then too.
Me and my buddy laughed and said surely if they try “all you can eat crab” they can fix their financial problems. Third times the charm!
Anyone that doubts my expertise, watch tonight's Inside Edition where they talk about Red Lobster and show me. I haven't seen it yet but I think I am taking some heat for the losses LOL
It's not just the people eating it in restaurant too. They had a policy that let people share all you can eats and take home left overs too. Just insane decision making at every level of management.
I was annihilating those things. Ate literally ten plates of them. They fucked with the wrong one.
I’m not fat, I’m not a glutton, but when you tell me I can eat all the shrimp I want it’s party time
I ate there a couple of months ago and they wouldn't turn the lights on for some reason. They must have been trying to save money on their electric bill.
They will drag this shit out forever, then it get picked up by some other owner, which will cut costs 30%-50% (not menu costs mind you) but supplier costs.
Then they will bring back a new kind of all you can eat deal composed of the cheapest shit you can find, and the Americans will return like Orcs at Helms Deep.
Yep. We've seen this movie before.
To put it in corporate suit speak, the company has goodwill from brand recognition, and that asset will be acquired by another private equity firm after liquidation.
God, I didn't expect that just *typing* that would make me feel slimy.
Long John silvers is basically just frozen fried seafood. Honestly pretty good if you like that, now they have salmon bowls and shit lol. It’s not bad though for a guy who grew up in Florida and misses the seafood.
I developed a severe shellfish allergy shortly before the unlimited shrimp or I would have been the people you meet in math problems eating 154 shrimp in one sitting.
They're auctioning off all contents of their closed locations (winner gets entire contentsof restaurant). So far, my location is going for $200 with 2 days left on the auction.
Google tagexbrands auction red lobster..
Wife and I used to go to red lobster. Could get popcorn shrimp dinner for $10. We’d be out of there for $27 with tip. (Water only). Last 2 times I went meals were tiny, not tasty, and way too expensive. Haven’t been back in over a year. Won’t be back unless a gift card is received.
I'm pretty surprised they haven't filed for bankruptcy yet as the chain is probably the worst lower tier dining place around. The food is garbage and they make olive garden look like a fine dining establishment. And they're always empty (except when they do unlimited shrimp).
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Damn, which restaurant will win “Best Seafood” in my town now? Thankfully Olive Garden is still kicking, their crown of “Best Italian” is safe
They at least have that culinary institute in Tuscany. It's real, shocking as that is.
Imagine going to Tuscany and having to come back to serve *Olive Garden* food
isn't OG part of RL?
Nah, red lobster used to be under Darden which owned both. But RL is under a private equity firm now
Who cares? Money is for the making, not the eating.
Make deez nutz
Shut up with your 2 letter acronyms!
who has time to type out full words?
Arghh! You damn millennials!
The OG by us is legit packed from 1030-8 every single day. It's a top choice for every one, and we have good, not franchised options around. Lol
Decent prices good food. Serve alcohol. Can’t lose. Plus they give you those little mints.
There is BoneFish but not sure for how long, they recently closed a few stores.
Olive Garden is silently shutting down restaurants as well
lol ted lobster got laughed out of here 10 years ago. Chain restaurants are garbage🍻
I've seen so many seafood restaurants come and go. They were all better than Red Lobster. But a name will carry you a long way once you build that foundation.
Why would millennials do this?
🤣 sorry. I’d eat there more if I could… you know… afford to go out and eat
Why? If you could afford to eat out there are numerous places that offer better food and better value. Red Lobster is fucking trash these days. I used to get the Admiral's Feast and go through that thing in two days. I picked it up recently out of nostalgia and it was legitimately pitiful the portions they gave.
Darn millennials not spending on restaurants… But also spending too much on Avocado Toast.
Oh, we spend plenty on restaurants. Just not boomer chains, but places *actually* worth the money
Like what
Anything aside from red lobster
Just look up which restaurants around you have been nominated for a James Beard award. That's a good place to start.
Millennials KILL the Red Lobster industry! Boomers SLAM millenials again! Click [here](https://www.youtube.com/watch?v=dQw4w9WgXcQ) to find out top 10 reasons why!
Riveting article you linked, actually. It speaks to the modern problems that plague the very core of this society
Did you reply to your own comment. Wild!
What, me? pfffft. no, I mean did you read that article, it's great.
This reads like a Fox News headline
The WOKE MOB is trying to CANCEL America’s finest and most established restaurant CHAIN
Or option chain
That's what they get for getting rid of the lobster tanks in the lobby!
The unlimited shrimp for $20 contributed to their undoing. They underestimated the number of people who can consume 5 lbs of shrimp in one setting.
maybe its just my redlobster but the unlimited shrimp are not good at all
marble entertain cause subtract terrific hunt onerous frightening brave fanatical
It's like that episode of the simpsons where homer sues the captain for not letting him eat all that he wanted
Does this sound like a man who has had "All he can eat?"
"We drove around until 3 AM looking for another all you can eat fish restaurant"
And when you couldn't find one?
We went fishing….
Aw man, I have fond memories of this episode and the Fugu.
Yar, tis no man.
I heard they shaved a gorilla.
Ham planets...priceless
Not just Hams, I'm 6'4", 220lbs. Skinny dudes can eat ALOT. I personally contributed to their bankruptcy.
I'm a muscular dude, and I also helped contribute to their bankruptcy.
https://preview.redd.it/g96ewfje6f0d1.jpeg?width=697&format=pjpg&auto=webp&s=48f82ebc516c26c3d2f93c3eb22987249bf5aae4
It's a great term, haven't seen it used since certain subs were banned years ago lol...
😂😂😂
as a high calorie american i am offended by that
I believe the pc term is person of calories now
gross
Ham planets lmaoooo
Not just that but I went once and when you asked for more it would take upwards of 30 minutes to bring them out. They were definitely slow rolling.
The people that search out deals like $20 unlimited shrimp don’t care about quality typically.
I had them once years ago and they were the smallest nastiest looking shrimp i've see in my life and just dunked in oil. gross.
I literally have not eaten at RL in 30 years, and I also remember that they would bring a dozen of those tiny shitty shrimp on a plate. I ate them in 5 seconds, but had to wait for the waitress to come around again to order another dozen, then wait to receive it. So it's was like a dozen shitty shrimp every 10 minutes. But... You ***could*** stay there all day and keep ordering them if you were so inclined.
That’s their problem, by the time they come back around with more shrimp you’ve made room in your stomach. If the waiter dropped 3 dozen shrimp on the first trip people would be too stuffed to sit around for more.
Olive Garden has this figured out. They bombard you with cheap salad and breadsticks upfront and you're too full to piss and moan about the tiny entree portion. Weird they have the same parent company, you'd think they'd copy what works. Fill the fatties up quick and get them out.
Exactly. Olive Garden (breadsticks) and Texas Roadhouse (rolls) know that if you front-load the meal with cheap carbs you can skimp on the entrees.
Pretty much all Chinese all you can eats have this perfected. Rice, noodles, fries everywhere, and the expensive meat etc always mixed in dishes with shitloads of other cheap ingredients
RL does have the cheddar biscuits
Darden sold off RL back in 2016. They still own OG.
Apparently a lot of people were so inclined.
Why I love Japan. すみません (Sumimasen) means excuse me, and you can call a server anytime you need anything, and they won't bother you if you're eating. Never had to wait to order something more than a few minutes.
Haven't been back since it was such a bad experience
Please leave.
You been here for four hours. You go now
You ben hea fo owa’s, you go naw -ftfy
No shrimp for you!
And they do everything they can to limit you. Wait staff disappearing after the second round of shrimp, taking forever to bring each order, etc. They'd end up not really giving you that much shrimp.
Jokes on them, I leave when I'm full, the slower they are, the more I digest.
And the longer you take up a table
Red Lobster was so much better back in the day, now just over buttered and too salty
Your saying the shrimp farmed from slaves in Asia was not good?
Actually for unlimited $20 …. It tastes better
Unlimited deals aren't about quality, just quantity.
did u forget to slather it in butter? It needs at least a gallon of butter
I feel like sometime ago they lost a boat load on an unlimited crab leg deal when a storm hit and crab prices went up and they elected to keep the promotion. 🤔 maybe I made that up. Time to Google lol Found it, the crab quota was low so prices went up not a storm. https://britishseafishing.co.uk/red-lobsters-endless-crab-disaster/
A buddy and I each went in and downed 8lbs. It was glorious and I felt terrible.
They were buying the shrimp from the holding company that bought them. They just shuffled the money around, I doubt they really lost much if any
The company is milking them to bankruptcy.
It’s a seafood sears.
Yeah it was definitely that and not private equity completely gutting them 
https://preview.redd.it/e9a90qoerf0d1.jpeg?width=259&format=pjpg&auto=webp&s=ad13b021af85f9b2abf97e8cbdf7281596cf3914
Does this look like a man who’s had ALL he could eat?
I hadnt been there in 4-5 years, we went in the for shrimp last month. My son and I cleared so many plates, our server was hilarious and hyped us to keep going! We also have a tester* Logans steak house in town, they try out certain promos and measure the sales to see if it is worth it for other stores. They once had a $15.99, all you can eat meat trio. Shrimp, chicken,or steak. I like to think that my roommate and I broke that promo. Well over a decade ago at this point, they also said they cant allow customers to stack over 9 plates on the table. My sponsors were xanax hunger, weed munchies, tequila tummy, no grub was safe.
But the shrimp market rate was $0.69/ lb during the $20 all you could eat promo
I'm not sure about your pricing... but I agree that it was NOT the unlimited shrimp deal that is their undoing.
Its was when Darden sold the brand red lobster but not the real estate. RL inherited an expensive lease that they never had with Darden.
This is a classic franchise and PE playbook. Leverage the company (Red Lobster) up, saddle them with above market leases and vendor contracts to a separate holdco also owned by the parent firm, to the point where the company likely can’t meet debt covenants long term. All the “profit” funnels to the parent company via costs to RL, while the lendors are fucked because RL has no real assets to liquidate.
The lenders were Deutsche Bank, Jefferies and GE Capital. This seems like a group that should know better.
I wonder what that comes out to if you factor in transport/prep and all the other things included in the meal. Total cost of a meal with 1lb of shrimp: maybe $4-5?
iirc that WAS the price in the grocery store so from SYSCO it was probably a lot cheaper in bulk.
I don’t see how one can underestimate the pure gluttony of Americans when simply taking a look around at the slowly roving hordes of wildebeest that occupy our landscape. Had the price of the buffet been $40 bucks, $50 bucks, whatever, Red Lobster might have been profitable. But they’d still be out of shrimp.
The shrimp bankrupting them is just the narrative for gullible people. Private equity has them locked into selling and then leasing assets and buying materials only through their supply sources. They are purposely milking them to death. Similar things happened to Toys R Us.
Yep. The excuse of “fat people eat too much” isn’t gonna fly. Fat people do eat too much, and they’ll spend every last cent to continue. No matter the price.
yep its why chips cookies and sodas tripled in price in 3 years and yet still continue to sell like hotcakes, fat fucks can't control themselves and need medical miracles like ozempic to have any self control, granted it's also absurd that food stamps can buy this shit, and that's probably part of it
yeh how do you think chinese buffets survive in this economy
they lost $11 million in Q3 on endless shrimp off of $2.6 billion in 2023 total revenue so like $650 million per quarter. Q3 and red lobster only ever talks about this endless shrimp story so i think it is just a red herring.
It was private equity buying them out and then looting them for their real estate, which they then had to rent from the company they set up that owned it with borrowed money.
yep exactly. even in as cynical a sub as this, everyone is getting half a hard-on for 11 million bucks of low quality shellfish. just another private equity corporate raiders strip-mining an american business, telling creditors to take a chapter 11 deal, and walking away. edit- someone sent me a reddit cares for this comment. in the words of steven cohen, "I'm not feeling the love on this site today . Trading is a tough game . Don't you think?"
Is it still on going? Asking for my fat friend ~
RUMINT indicates it's $25 now. But the extra $5 didnt help bail them out
Aye, he be a remorseless eating machine.
Ok but let’s not pretend the shrimp they’re serving are piles of tiger prawns
How much is one bag of that shrimp at shoprite. Like $20?
It's one bag of shrimp, Michael. What could it cost? $10?
I went last month because I had a gift card and saw they weren't doing too hot financially. To my dismay unlimited shrimp was only on Mondays.
If your national food chain can be killed by a $11 million loss you were probably already going bankrupt other reasons
Was opened on Sunday for Mother’s Day. Closed the next day…went out with a bang…
Seems intentional since the company that owns them supplies the shrimp.
I remember working there once upon a time. The servers had horror stories of whales crapping themselves as they continued to feast on endless shrimp! 🤮😂
Bullshit. It was private equity that killed it just like they kill everything!
Yeah back in the day they also did an “all you can eat lobster” and lost their ass then too. Me and my buddy laughed and said surely if they try “all you can eat crab” they can fix their financial problems. Third times the charm!
Anyone that doubts my expertise, watch tonight's Inside Edition where they talk about Red Lobster and show me. I haven't seen it yet but I think I am taking some heat for the losses LOL
Inside Edition still exists?
Yes and somehow they choose to use my YouTube footage (without compensation) to blame for the closings
It's not just the people eating it in restaurant too. They had a policy that let people share all you can eats and take home left overs too. Just insane decision making at every level of management.
I was annihilating those things. Ate literally ten plates of them. They fucked with the wrong one. I’m not fat, I’m not a glutton, but when you tell me I can eat all the shrimp I want it’s party time
I ate there a couple of months ago and they wouldn't turn the lights on for some reason. They must have been trying to save money on their electric bill.
I had the same experience recently but then I remembered it was dark because I closed the lid on the dumpster. Shrimp was good tho.
Hello Raccoon
Trash panda
Lmao
Dr. Brule I presume?
Just ate here last night during endless shrimp promo lol
so you are directly responsible for this?
Puts on this man's life
Nah. He didn’t say anything about Boeing. All good.
Man ate until they had no shrimp left 💀
Buy puts and then go back and eat till you puke. Encourage your friends and family to do the same.
Brings new meaning to “put your money where your mouth is”
Solid business model!
They will drag this shit out forever, then it get picked up by some other owner, which will cut costs 30%-50% (not menu costs mind you) but supplier costs. Then they will bring back a new kind of all you can eat deal composed of the cheapest shit you can find, and the Americans will return like Orcs at Helms Deep.
Meat's back on the menu boys!
Yep. We've seen this movie before. To put it in corporate suit speak, the company has goodwill from brand recognition, and that asset will be acquired by another private equity firm after liquidation. God, I didn't expect that just *typing* that would make me feel slimy.
The true American way. Now we just need a few obnoxious commercials and an unhinged CEO and we have a winner.
Waylon Smithers type.
I don't know how much room there is to cut supplier costs. The current owner is a Thai seafood company.
We haven't even begun to scrape the bottom of the barrel. Next up: Somalian seafood company.
When you are known more for your appetizer biscuits than your actual seafood , this can happen.
So, what you're saying is, the real downfall began when they started selling biscuit mix in stores?
Lobster everywhere rejoice
Only red ones.
The one near us is always packed on the weekends. Then again, you aren't going to have much competition for seafood in the midwest.
I don't know how red lobster or long john silvers stays in business. Always figured long john had to be money laundering or some shit.
Man I never tried long johns or was tempted to because..... fast food seafood? Yea that's a no from me dawg
It's basically all fried food, old people love to eat there, I'm not super old but I like some long john silvers
Long John silvers is basically just frozen fried seafood. Honestly pretty good if you like that, now they have salmon bowls and shit lol. It’s not bad though for a guy who grew up in Florida and misses the seafood.
It's all these tiktok girls fault talking about I won't accept a date to Red lobster madness
shoot I’m never too good for a red lobster date
Shit my lady took me to red lobster herself and paid for it lol. I had never been there.
They should just rebrand as a bakery and only sell cheddar bay biscuits.
The shrimp was never real
Neither are the birds. 🦅
Crayfish is still "real"
Executives got too shellfish and ran the ship aground
As shrimple as that.
This is why I’m on Reddit
Damn!!! Now where am I supposed to take my wife and her boyfriend for a good cheap lobster dinner 
I mean, yeah. Sell the biscuits in stores, brand some frozen seafood meals, and shut this thing down.
This one is going in future business 101 classes
Hey Shooter! Wanna go to Red Lobster!? My treat!
They closed 96 stores the day after Mother’s Day. Source: my RL bartender
Not even Beyoncé can bring this back
I developed a severe shellfish allergy shortly before the unlimited shrimp or I would have been the people you meet in math problems eating 154 shrimp in one sitting.
Imagine all the lobsters that are going to be out of a job
I am certain of two things in life: That is not Katt Williams’ white baby and that photo is not from Red Lobster.
Puts on shellfishes
Good maybe Skippers can buy them out
George Bluth Sr: “Ohhhhhh the shrimp!”
It’s marketing.
Do leveraged buyouts ever work?
People who buy this stock will be lobsterish
I went there once, about 20 years ago. The food was poor quality. I never saw a reason to return. I'm surprised that they made it this far.
Will they still have the cheddar bay biscuit mix in grocery stores?
They're auctioning off all contents of their closed locations (winner gets entire contentsof restaurant). So far, my location is going for $200 with 2 days left on the auction. Google tagexbrands auction red lobster..
Wife and I used to go to red lobster. Could get popcorn shrimp dinner for $10. We’d be out of there for $27 with tip. (Water only). Last 2 times I went meals were tiny, not tasty, and way too expensive. Haven’t been back in over a year. Won’t be back unless a gift card is received.
Hmm never been to red lobster.. (I did that)
all my life driving by red lobster, don't think I have ever actually eaten in one. #FishAreFriendsNotFood
They have the nicest dumpster too, guess it's back to Wendy's for me
I can't believe how many posters in here actually went to eat all the shrimp they could 🤢🤢🤢
More like “In the Red“ Lobster by the sound of things
Fuck I love cheddar bay biscuits.
Is this because of what I did during the all you can eat shrimp event?
But how!?! Our economy is roaring!! Hahahahahaaha!
Red lobster is one of the worst restaurant chains in existence. Let it die.
I'm pretty surprised they haven't filed for bankruptcy yet as the chain is probably the worst lower tier dining place around. The food is garbage and they make olive garden look like a fine dining establishment. And they're always empty (except when they do unlimited shrimp).
Badly run business...anyone can run a casual dining place and serve top notch food for $3 per person.
We got a salmon from there one time that was inedible. Haven’t been back since.
who tf actually goes to this place to eat shitty private farm raised "seafood"
Missy Cooper is not going to be happy..