The Drowning of Red Lobster

Business Wars Daily

Wondery

News, Daily News, Business News, Business

4.6 • 716 Ratings

🗓️ 29 May 2024

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today is Wednesday, May 29, and we're looking at Red Lobster vs. Olive Garden.

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Transcript

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1:02.6	One, three, one. Melanon Online Community. From Wondry, I'm David Brown, and this is Business Wars Daily on this Wednesday, May 29.
1:07.8	The news has been buzzing for a while, but last week it finally happened. Red Lobster has filed for Chapter 11 bankruptcy. The seafood chain had marked dozens of locations as temporarily closed and began to liquidate some of those locations' kitchen equipment, according to USA Today. The company said in a statement that the bankruptcy proceedings would help
1:28.3	it simplify its business and allow it to pursue a sale of its assets. Red Lobster locations
1:34.2	that haven't been shuttered will remain open throughout the process, the company emphasized.
	...

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