" We have to remember the Cheddar Bay Biscuit recipe . "
On Sunday, Red Lobsterannouncedit would officially file for Chapter 11 bankruptcy. The news comes after the closure of over 100 of its locations, many of which were completely gutted and their contentsauctionedoff, including lobster tanks, industrial ovens, patio heaters, and, in some cases, the whole restaurant. Some former Red Lobster employees even claimed they receivedno noticeof these closures and walked into locked or empty restaurants.
While it may come as a shock to many die-hard Cheddar Bay Biscuit fans, the seafood chain has been struggling for some time now. Sales have beendownfor a few years (with a big decline in the last12 months). In 2014, private equity firm Golden Gate Capital struck adealto purchase Red Lobster from Darden Restaurants (who own Olive Garden and LongHorn Steakhouse). The firm sold the chain’s real estate assets in a sale-leaseback agreement, meaning Red Lobster would have to start paying rent on properties they could no longer afford.
Then came the all-you-can-eat shrimp. In 2023, Red Lobster brought back the old promotion, which allowed customers to order an unlimited number of select shrimp dishes for just $20. In an interview withSlate, one former employee recounted someone ordering 16 rounds of shrimp scampi and camping out at their table for two hours. Another employee recalled watching a diner consume 30 rounds of fried shrimp in four hours.
Despite bringing in more foot traffic, the promotion cost the chain$11 millionin quarterly losses. But it turns out there’s more to the shrimp-fueled chaos than meets the eye. In 2020, major seafood supplier Thai Union became Red Lobster’s majority shareholder and thought the promotion would helpoffloadthe tons of shrimp they had on hand. During their time running the chain, they also allegedly ousted two rival suppliers and faced a lot of executive turnover.
Long story short, there were a lot of factors that ultimately contributed to this decision. Whatever the cause of Red Lobster’s downfall, the news has fueled concerns from restaurant-goers on X (formerly Twitter) as they struggle to cope with the news.
I CAN’T LOSE MY ENDLESS SHRIMP PLEASE TELL ME THIS ISN’T THE END?!!??!https://t.co / U2YHJyEZl7
Everyone’s main concern? No longer having access to Cheddar Bay Biscuits.
WHAT ABOUT THE CHEDDAR BISCUITShttps://t.co/2KRs2nn8RC
Even Beyoncé is getting roped into the drama.
where is beyoncé gon na take his ass when he fuck her good :( https://t.co/GWHfLoCN6A
But don’t worry, friends: Filing for Chapter 11 bankruptcy doesn’t mean Red Lobster is gone for good. In a statement posted toXandInstagram, Red Lobster clarified, “Filing for bankruptcy does not mean we are going out of business. In fact, it means just the opposite. It is a legal process that allows us to make changes to our business and our cost structure so that Red Lobster can continue as a stronger company going forward.”
We ’re here to celebrate every moment , big or small , with our appreciate guests.pic.twitter.com/JmAoNGP4a8
Relief quickly flooded the comment section as folks expressed their support and shared their personal Red Lobster stories.
It’s not clear what’s next for Red Lobster, but it looks like our Cheddar Bay Biscuits are safe (for now).
My aliveness would not be the same without Cheddar Bay Biscuits . I ’m always glad to support the Red Lobster family ❤ ️ 🦞
