Kornball The Conqueror
Superstar
half there menu is in walmart frozen section
Red Lobster Files for Bankrupcy
- Thread starter Doobie Doo
- Start date
non of the red lobsters in NYC closed… It’s prob their biggest money makers 
Private Equity groups run/control all those kinds of spots now. They sell off the real estate, they gut the business and bankrupt it, take bankruptcy protection, after making millions and then sell it to some other group, who adds it into their portfolio. This is the new version of what they called corporate raiding back in the 80's.
not that they were ever really GOOD, Red Lobster, or even had "real" business practices, but read a book last about private equity groups and how their hands are in so many businesses that we interact with or see on a daily basis.
more just my own thoughts, but it's interesting to learn how business really works in America/the world. You grow up kinda thinking you had to have a business that actually makes money, like most small businesses do, but that's not how A LOT of these famous corporations are operating.
not that they were ever really GOOD, Red Lobster, or even had "real" business practices, but read a book last about private equity groups and how their hands are in so many businesses that we interact with or see on a daily basis.
more just my own thoughts, but it's interesting to learn how business really works in America/the world. You grow up kinda thinking you had to have a business that actually makes money, like most small businesses do, but that's not how A LOT of these famous corporations are operating.
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Some of these were never viable businesses, even in the 90's, the books were probably always off---too much real estate, too much overhead--and some were never viable since around 9/11, and that's a different story of corporate mismanagement or whatever. but private quiet strips them to nothing and then takes no loss. it's a great hustle if you can get into that lol
IsThatBrothaMouzone?
Superstar
Yup wife and I went to RL either late last year or early this year.
It was a Saturday and the place was empty. Good sized restaurant and there MIGHT have been one other table with guests.
KFC is stuck. Popeyes is viewed better among the big chains and then if folks just want a sandwich or strips, Chick Fil A, Raising Cane etc., got that market cornered. Not to mention Zaxby, Bojangles etc. Local chicken joints are on a whole other level and make KFC look like trash.
Church's used to be my favorite but that was almost 30 years ago. Only big chain that had fries AND okra with good biscuits. Knew they were going downhill back in high school because the chicken breasts were the size of Ronnie Coleman's arms
IsThatBrothaMouzone?
Superstar
They probably did OK with scale but the margins were thin and the cost of everything was lower. Once food, drinks, real estate etc., went up in price, there was no way to maintain viability.
If they go up in price/quality, you're competing with higher end restaurants that simply know how to execute that motif a lot better. If you go down in price you make no money....quality falls, and people just go to McD's.
Haven’t been to Red Lobster since the Bush Administration
We went there after my moms college graduation in like 07’
We went there after my moms college graduation in like 07’
Killah Ray
Carolina hail to thee....
Private equity firm buys company strips it for everything that it's worth and then files for bankruptcy.....rinse and repeat
Richard Glidewell
Superstar
Damn.....even that Beyonce stimulus couldn't save them