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Red Lobster

Financing

Red Lobster is set to be sold to Fortress Investment Group

 By Joe Guszkowski on Jul. 23, 2024

No other buyers came forward for the seafood chain, putting the owner of Krystal, Logan's Roadhouse and other chains in line to acquire it for about $375 million.

Financing

Ignore the Red Lobster problem. Sale-leasebacks are not all that bad

 By Jonathan Maze on Jul. 12, 2024

The decade-old sale-leaseback at the seafood chain has raised questions about the practice. But experts say it remains a legitimate financing option for operators when done correctly.

Financing

Red Lobster ponders best path out of bankruptcy

By Joe Guszkowski on Jul. 12, 2024

The seafood chain and its creditors are aligning behind a debt-for-equity deal that would limit disruptions and expenses.

Operations

Red Lobster's decline creates an opportunity in seafood

By Joe Guszkowski on Jun. 28, 2024

As the market leader closes restaurants across the country, innovative upstarts, steakhouses and even grocers could be in line to benefit. But can anyone unseat the king?

Workforce

California Red Lobster employees sue chain over mass layoffs

By Joe Guszkowski on Jun. 14, 2024

A lawsuit alleges that the seafood chain did not give staff enough notice before closing nearly 100 restaurants last month.

Financing

Red Lobster needs a buyer. How does Darden sound?

By Peter Romeo on May 28, 2024

Reality Check: The casual dining giant sold Red Lobster in a cloud of controversy a decade ago. Here's why a return to the fold may not be as crazy as it sounds.

Operations

How Red Lobster plans to get back on its feet

By Joe Guszkowski on May 23, 2024

As it heads for bankruptcy and a probable sale, the seafood restaurant chain laid out a turnaround strategy that includes tech upgrades and more “sensible” menu promotions.

Financing

Red Lobster gives private equity another black eye

By Jonathan Maze on May 22, 2024

The Bottom Line: The role a giant sale-leaseback had in the bankruptcy filing of the seafood chain has drawn more criticism of the investment firms' financial engineering. The criticism is well-earned.

Financing

Endless Shrimp becomes pivotal issue in Red Lobster bankruptcy

By Joe Guszkowski on May 21, 2024

The chain’s CEO alleged that the promotion may have pushed more shrimp business to its largest shareholder at Red Lobster’s expense, setting the stage for a messy Chapter 11 proceeding.

Financing

Struggling Red Lobster declares bankruptcy

By Jonathan Maze on May 20, 2024

The casual-dining seafood chain, with $300 million in debt, filed for Chapter 11 bankruptcy protection in one of the biggest filings in restaurant industry history.

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