RED LOBSTER NEWS | Restaurant chain files for bankruptcy with US$1B in debt
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- เผยแพร่เมื่อ 26 ก.ย. 2024
- The restaurant chain Red Lobster has officially filed for bankruptcy protection, saying it had over US$1B in debt.
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Population is poor. No outings to restaurants except for fastfood Mcdonalds. Even they have seen a decline. Just the begining.
Someone in Nova Scotia should buy some of their stores and open a Canadian seafood chain.
Yes newfoundland needs jobs. It would be great for nova scotia newfoundland.
Sounds like a recipe for another bankruptcy.
@@jptrainor Oh? How so?
@@KyleRuggles Restaurants are awful businesses. And trying to do a niche restaurant is even worse.
🤣
Probably just the start. Only ate there once and it wasn't bad but no one can afford to eat out anymore.
Son of a horse $1 billion in debt I didn’t think me stop eating crab 🦀 and lobster 🦞 would have that effect!
It wasn’t managed properly. The average bill was 120.00 no other food chain charged that amount and went under. My only question is are they gonna discount the remaining surplus inventory ? 😂
Looks like my Uncle Zoidberg is out of a job.
They have been hemorrhaging money for so long.
I think they underestimated how popular that shrimp deal would be.
They were sold to a private equity group who dismantled and gutted the company for profit leaving creditors owing. This has nothing to do with slinging shrimp.
It has nothing to do with the shrimp I agree with you there however it was owned by dart and restaurants which was division of General Mills in fact it's still a division and it owns LongHorn steakhouse and Olive garden but General Mills via dart and restaurants sold it to Golden gate capital about 10 years ago and then they in turn turned around and sold it to its current owners which is a company out of Thailand.
Yes it is basically a hedge fund AKA holdings company they have their hands of many other pies however they didn't exactly got it it's been losing money for over 15 years.
This is why darden dumped it.
Seafood industry in Canada is getting hammered a lot from international competition through regulation and taxes against our industry vs international competition.
Bidenomics is working!😂
Also Trudeau-enomics
Impact from Trump Covid Shutdown
LOL.....oh ya that's what it is, it's not decades of executives funneling money in the form of salaries and bonuses into their pockets and then running up the tab in the company name for as long as creditors would let them to only file bankruptcy and take no personal loss to their own holdings at all......never mind screwing their creditors and tossing all their workers to the curb. Ya you nailed it.
@@andreward8268
Trump didn't shut down anything.
That's the governor of the state's.
But this is Bidenomics working!😂
@@dougtheslug6435
Nope. Bidenomics.
Might have eaten too much shrimp last time I went. Sorry
Read they did it on purpose?
They’re only a mediocre restaurant at best and don’t carry Canadian products beer and such wine. I don’t care let them go.
Once the cheddar biscuit recipe leaked, that was all
This is the alphabet groups fault.
1billion shrimp
Wow too bad. Such an iconic chain. We would always go dine there for family gatherings when I was younger.
They deserve to go out of business the food is mediocre and is over priced.
All you can eat 😂😂😂