Dream Wired
No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
No Result
View All Result
Dream Wired
No Result
View All Result
Home Celebrity

Red Lobster May Be Going Bankrupt

rmtsa by rmtsa
April 18, 2024
in Celebrity
0
Red Lobster May Be Going Bankrupt
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

Jussie Smollett Alleges Key Evidence Left Out Of Netflix Special

How Black Women Can Achieve Olandria’s Bright ‘Love Island’ Under Eyes – Essence

Erica Banks Reveals 2nd BBL From Hell Made Her Faint

BRAZIL – 2023/12/13: In this photo illustration, the Red Lobster logo is displayed on a smartphone screen. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)

It looks like the cheddar bay biscuits may have not been enough to save popular seafood chain Red Lobster.

According to reports the restaurant franchise is considering a Chapter 11 bankruptcy filing to help restructure its debt.

Law Firm King & Spalding is advising the brand, per a Yahoo Finance report. According to the outlet, the move comes to help alleviate the strain of some long-term contracts, and to renegotiate a litany of leases.

The 56-year-old restaurant has become synonymous affordable seafood options, like its popular $20 all-you-can-eat shrimp deal, but it wasn’t quite as financially successful as it hoped, according to reports. The deal was popular but it ended up costing the company more than $11 million in one quarter.

Red Lobster is not the only once lucrative chain restaurant facing financial in 2024. For instance southern-themed eatery Cracker Barrel saw a significant decrease in customer traffic in recent years. Denny’s also closed 57 locations because of inflation-induced financial issues. Per reports, a Denny’s location previously needed $1 million to be in the red. Now, it requires $1.2 million, Robert Verostek, Denny’s CFO stated.

Similarly, the parent company of fast casual chain Applebee’s announced the closure of 46 locations in 2023 during a fourth-quarter earnings call.

So, why do so many chain restaurants seem to be in financial trouble as of late? Some experts are blaming the challenges on hiked prices that started last year, and seem to be catching up to the businesses now that the threat of a recession is more nigh.



Source link

Tags: BankruptLobsterRED
Share30Tweet19
rmtsa

rmtsa

Recommended For You

Jussie Smollett Alleges Key Evidence Left Out Of Netflix Special

by rmtsa
August 25, 2025
0
Jussie Smollett Alleges Key Evidence Left Out Of Netflix Special

Jussie Smollett is determined to clear his name in the alleged botched robbery/assault scheme that halted his career and tarnished his reputation. Source: River Callaway / Getty Though...

Read more

How Black Women Can Achieve Olandria’s Bright ‘Love Island’ Under Eyes – Essence

by rmtsa
August 25, 2025
0
How Black Women Can Achieve Olandria’s Bright ‘Love Island’ Under Eyes – Essence

Kim Nunneley/Peacock Bright under eyes and Black women are officially coupled up. And, for Love Island islander (and half of Nicolandria) Olandria Carthen, the look was her signature...

Read more

Erica Banks Reveals 2nd BBL From Hell Made Her Faint

by rmtsa
August 24, 2025
0
Erica Banks Reveals 2nd BBL From Hell Made Her Faint

Source: Thaddaeus McAdams / Getty Over the years we’ve all heard about the numerous side effects that come with getting a BBL (namely the stinky part, allegedly). But...

Read more

Meagan Good Celebrates 44th Birthday With Jonathan Majors

by rmtsa
August 24, 2025
0
Meagan Good Celebrates 44th Birthday With Jonathan Majors

Meagan Good celebrated her 44th birthday in Cartagena, Colombia with husband Jonathan Majors and her family by her side. Source: Tommaso Boddi / Getty The actress let her...

Read more

The Rousseau Sisters Want to Change The Way You Experience Jamaican Food

by rmtsa
August 23, 2025
0
The Rousseau Sisters Want to Change The Way You Experience Jamaican Food

They’ve hosted royals, elevated island flavors, and now they’re letting you in on one of their signature dishes. For Jamaican chefs Suzanne and Michelle Rousseau, food, quite literally,...

Read more
Next Post
‘I Wanted to Look Like Angelia Jolie’

'I Wanted to Look Like Angelia Jolie'

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized

CATEGORIES

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized
No Result
View All Result

Recent News

  • RHONJ’s Luis Ruelas Supports Todd Nepola After His Rant Against RHOM Producers
  • Autopsy Reveals Details, Co-Parent Hires Lawyer
  • Jussie Smollett Alleges Key Evidence Left Out Of Netflix Special

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In