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May 21, 2024 - 3:17:32 AM
41242 posts since 3/5/2008

Files chapter 11 bankruptcy...

What others are out or in trouble?

May 21, 2024 - 4:50:17 AM
Players Union Member

Texasbanjo (Moderator)

USA

30200 posts since 8/3/2003

With their prices for dinner, it's no surprise that they're going bankrupt. They're not the only one overcharging (In my opinion) for food, have you priced fast food lately? It's getting almost as expensive as sit down, get waited on dining. (I don't eat fast food, but I do read articles about the cost).

Even my favorite Mexican restaurant is now getting too expensive to afford.

May 21, 2024 - 4:59:22 AM

Paulf

Australia

3571 posts since 2/1/2012

I don't do take-away any more due to the high cost and have noticed when I go for a motorcycle ride and we stop for coffee and cake that the prices have really gone up so much but I was talking to one of the owners and she was stating that they have no choice due to wages, electricity and food prices that has really made it hard for them and they are unsure of the future.

May 21, 2024 - 5:07:48 AM

slammer

USA

4547 posts since 12/30/2008

Never been to a Red Lobster so I guess I’m not missing anything!!!
Slammer!!!

May 21, 2024 - 5:10:41 AM
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41242 posts since 3/5/2008

They not the only ones .Slammer..

May 21, 2024 - 6:00:56 AM

Buddur

USA

3934 posts since 10/23/2004

I read an article a few weeks ago about the demise of Red Lobster.

Unfortunately, it's a story of many internal business issues and poor management decisions culminating to their end.

May 21, 2024 - 7:24 AM
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rinemb

USA

16289 posts since 5/24/2005

I have not been to one in decades. I miss the biscuits more than anything else.
In hurry, we went to our nearby local multi-joint, burger drive-through. Their burgers are fairly big. I had a #1 Burger, Marilyn ordered a salad, and we shared a medium fries. Cost 19.53 USD. What would it cost to feed a family? Brad

May 21, 2024 - 8:50:45 AM
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banjo bill-e

Tuvalu

13802 posts since 2/22/2007

I used to take my Mom there for lunch. She loved their cheese biscuits and the local place would always send a few extras home with her. Lobster, for anything decent, has now moved beyond my affordability range, sad to say.

May 21, 2024 - 10:44:54 AM
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chuckv97

Canada

72107 posts since 10/5/2013

I’m sitting in a ,,horror,, McDonalds while my car is getting a new windshield put in,,, hot cakes & bacon , seniors coffee : $5.79
I’ve done worse….

Edited by - chuckv97 on 05/21/2024 10:45:28

May 21, 2024 - 12:43:13 PM
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heavy5

USA

3080 posts since 11/3/2016

quote:
Originally posted by slammer

Never been to a Red Lobster so I guess I’m not missing anything!!!
Slammer!!!


Myself either Dale , I'm allergic to shellfish .(:0(  

May 21, 2024 - 12:58:57 PM

Bill Rogers (Moderator)

USA

28043 posts since 6/25/2005

CA fast-food workers now make a minimum of $20 per hour. That increased cost will be borne by customers. If they don’t show up with new and higher prices, the restaurants will close. Restaurants have always been a high risk, tenuous investment. Now more than ever. That said, the stories i’ve seen on Red Lobster suggest years of mismanagement borne of out-and-out incompetence. Used to eat there regularly, but haven’t been in years for reasons having nothing to do with economics. I neither know nor care about the fate of the Red Lobster my family used to patronize.

May 21, 2024 - 4:45:26 PM
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Owen

Canada

15162 posts since 6/5/2011

Several years back I taught with a teacher from Newfieland.   She said she never developed a taste for lobster, because when she was a kid, it was considered "poor people's food."  I'm guessing that she was a bit younger than me, which would put much of her childhood years in 1960-'75ish. Dunno if that time frame meshes with this story, but ....  .   https://www.cbc.ca/news/canada/newfoundland-labrador/lobster-fishing-history-1.5717043

May 21, 2024 - 7:14:58 PM

banjo bill-e

Tuvalu

13802 posts since 2/22/2007

They were never upscale; they relied upon working folks who could afford to treat themselves now and then. Perhaps fewer people find such treats affordable these days? If so then many restaurant chains are going to be in trouble.

May 21, 2024 - 8:19:25 PM

29 posts since 2/18/2024

Same will happen with Buffalo Wild Wings. The endless boneless wings is the same thing that Red Lobster with the endless shrimp. Just another way to get people in the door and get bankrupt.

May 22, 2024 - 8:49:49 AM

bill53

USA

603 posts since 3/26/2004

Sam Ash closing

May 22, 2024 - 2:51 PM

Bill Rogers (Moderator)

USA

28043 posts since 6/25/2005

I suspect many closings in the last year or so are fallout from the pandemic. Stores and restaurants took hits that they couldn’t ride out, even as customers began returning—and also many operations for whom their customers (or enough of them) never returned. And for some, add to that the kind of mismanagement that Red Lobster suffered with. On the horizon: the effects of the pending tariff whack at China (which will of course be mostly paid for by U.S. consumers—one way or another). 

Edited by - Bill Rogers on 05/22/2024 14:52:11

May 22, 2024 - 3:21:19 PM
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7690 posts since 7/24/2013

quote:
Originally posted by Bill Rogers

CA fast-food workers now make a minimum of $20 per hour. That increased cost will be borne by customers. If they don’t show up with new and higher prices, the restaurants will close. Restaurants have always been a high risk, tenuous investment. Now more than ever. That said, the stories i’ve seen on Red Lobster suggest years of mismanagement borne of out-and-out incompetence. Used to eat there regularly, but haven’t been in years for reasons having nothing to do with economics. I neither know nor care about the fate of the Red Lobster my family used to patronize.


As someone who runs restaurants, the labor vs food cost ratio is significantly overblown. In many cases even a 30% increase in wages can be offset by a slightly less than 4% increase in menu prices. 

May 22, 2024 - 3:26:23 PM

79702 posts since 5/9/2007

Maine's participation in catching lobsters is on thin ice.
There are bigger fish interested in the Gulf of Maine.

May 22, 2024 - 3:30:43 PM

7690 posts since 7/24/2013

Red Lobster has been living on the edge for a long time, once a chain is so large that they are owned by a finance group they basically cease to be restaurants and instead become property holdings. The writing was really on the wall for Red Lobster because a finance group owned 49% of the company for years but never saw the value in grabbing another 2% for control of the business. Also, Americans have steadily moved more to quick-serve over full-scale restaurants, as families shrink and see less value in sit down dinners. Chick-fil-A, Raising Canes, and In-and-Out Burger bring in more in sales with less square footage.

May 22, 2024 - 3:36:31 PM

79702 posts since 5/9/2007

Seafood is better for digestion than burgers.

May 22, 2024 - 3:51:05 PM

41242 posts since 3/5/2008

quote:
Originally posted by steve davis

Maine's participation in catching lobsters is on thin ice.
There are bigger fish interested in the Gulf of Maine.


Steve ..

Would you please explain more on this...

Thanks..

May 23, 2024 - 4:42:19 AM
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79702 posts since 5/9/2007

The danger to Right whales (ropes in the water) and the very expensive and yet untested "rope less gear" solution.
Raising of the minimum size of lobsters
Other new regulations
Rebuilding of shoreline wharves and businesses
Rising costs of boat building,gear purchasing
Unknowns of "ropeless gear" discouraging fishermen to stay in the business.
The Haig court dividing the Gulf of Maine amongst the energy companies.

May 23, 2024 - 6:09:56 AM

41242 posts since 3/5/2008

Thanks...

May 23, 2024 - 6:14:44 AM
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41242 posts since 3/5/2008

May 23, 2024 - 2:00:59 PM

41242 posts since 3/5/2008

b****ute.com/video/0sfX14fUK4U7/

List if closing n down sizing ..
Restaurants...

May 23, 2024 - 3:06:35 PM

chuckv97

Canada

72107 posts since 10/5/2013

Folks that limit their eating-out will likely spend their disposable income somewhere else, so from a layman’s economic view here I don’t see much change in the gu’m’nt tax haul.

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