May 15, 2024
Food & Beverage Leader Louis Biscotti boils down the rise and fall of Red Lobster for Forbes
Forbes
By Louis Biscotti, National Leader, Food & Beverage Services Group
Excerpt:
Red Lobster’s closure of dozens of restaurants is attracting a lot of attention, and you can bet that people are looking for lessons. The nation’s biggest seafood chain is now in the middle of the biggest restaurant equipment auction to date. A website indicates auctions at nearly 50 closing restaurants, but the number listed on Red Lobster’s site includes dozens more. It’s a case of Red Lobster facing red ink, which leads to a long list of closures and talk of bankruptcy.
