Search results
Results From The WOW.Com Content Network
Red Lobster Hospitality, LLC is an American casual dining restaurant chain headquartered in Orlando, Florida.The company has operations across most of the United States (including Puerto Rico and Guam) and Canada, as well as in China, Ecuador, Japan, Malaysia, Mexico, Philippines, Turkey and the United Arab Emirates; as of June 23, 2020, the company had 719 locations worldwide.
Red Lobster was founded in 1968 in Lakeland, Florida, by Bill Darden and Charley Woodsby. ... General Mills spun off the chain, creating Darden Restaurants, a publicly traded company. Darden ...
On May 12, 2014, Darden announced that as part of the spinoff of Red Lobster, it was converting the co-located Red Lobster and Olive Garden locations into standalone Olive Garden locations. [27] On May 16, 2014, Darden announced that it would be selling the Red Lobster seafood restaurant chain to Golden Gate Capital for US$2.1 billion. [ 28 ]
Red Lobster's private equity owners saddled it with overpriced leases and overpriced shrimp, then blamed customers for its problems. ... to part of a publicly-traded organization, and then back to ...
The sale/leaseback that helped sink Red Lobster involved the July 2014 sale of premium real estate underneath 500 of its stores, which generated $1.5 billion.
ADXco / ShutterstockUPDATE: May 21, 2024Editor's note: On May 19, Red Lobster confirmed it has filed for Chapter 11 bankruptcy. Nearly 580 of its restaurants will remain open through the ...
Red Lobster said Thursday that it expects to operate about 544 locations across the U.S. and Canada upon emerging from bankruptcy. That's down from 578 disclosed as of May's bankruptcy filing.
Red Lobster was a casual dining pioneer, bringing affordable seafood to middle-class consumers for the first time. But the chain has declined in recent years due to a range of factors, including ...