So This week we are going to talk about the Downfall of the once beloved and largest seafood chain in US History: RED LOBSTER!!! Many people will tell you that the restaurants failure was caused by the disastrous ENDLESS Shrimp Campaign.
Which Don’t get me wrong was huge mistake they lost 11 million dollars in three months. People were doing tik tok challenges to try and eat as many shrimp as possible. Hiding Ziplock bags in there purse sneakily smuggling shrimp out of the restaurant.
But when I looked into it the story got A Lot more complicated. The true culprit is of course Private Equity. After 2014, the restaurant was passed from owner to owner, with each Bleeding as much money as possible before dumping it. Including a shady seafood supplier with a Crazy Shrimp scheme. Trying to make money while they rode the restaurant into the ground.
Redlobster officially filed for bankruptcy in 2024. But Don't worry they are not going out of business just yet. They closed over 100 stores and have been bought up once more. This time with a young and energetic new CEO who is invested in the Greatest comeback in Restaurant history! But will he be Redlobsters savior or just another in a line of vultures? I have hope but Only Time will Tell!
Im excited about this one its gonna be silly And as a speciall treat I somehow was able to keep this to ONE EPISODE!!! Enjoy!
Sources for this week:
“The Raiding of Redlobster” By Luke Goldstien- the American Prospect (2022) https://prospect.org/economy/2024-05-22-raiding-red-lobster/
“Greed,Gluttony, and the Crackup of Red Lobster” by David Segal- The New York Times(2024)https://www.nytimes.com/2024/09/09/business/red-lobster-seafood-downfall.html
“Red Lobsters mistakes go beyond endless shrimp”by Denise Guerra+David Pierce -Vox (2024) Https://www.vox.com/today-explained-podcast/351642/red-lobsters-mistakes-go-beyond-endless-shrimp
“Red Lobster’s Bankrupt-sea” -Today Explained With Sean Rameswaram: Vox (2024)https://podcasts.apple.com/us/podcast/red-lobsters-bankrupt-sea/id1346207297?i=1000656549580
“After Sinking to the bottom, Red Lobster Snapped Up” by Mark Faithfull(2024) https://www.forbes.com/sites/markfaithfull/2024/09/17/after-sinking-to-the-bottom-red-lobster-snapped-up-from-chapter-11/
“Red Lobsters Sale Approved By Judge: What does it mean for the remaining Restaurants” By Michael Bartiromo and Ashleigh Jackson (2024) https://thehill.com/homenews/nexstar_media_wire/4865848-red-lobster-sale-approved-by-judge-what-does-it-mean-for-the-remaining-restaurants/
“The Biography of Red Lobster Founder Bill Darden” By Don Daszkowski (2019) https://www.liveabout.com/bill-darden-biography-1350946
“The Story of RED Lobster” Current Red Lobster Official Website https://www.redlobster.com/our-story/our-history/
“The Forgotten Racial History of Red Lobster” By Nathaniel Meyersohn(
Send us a text! Let us know what topics you want us to cover!
