And it went down just like everyone thought it would.
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The company that owns Red Lobster restaurants is setting their seafood chain free!
Darden Inc. is selling off all of their Red Lobster locations for a STEEP price of $2,000,000,000!
Jeeze! We knew lobster was expensive but that seems insanely high!
The parent company also owns Olive Garden but has decided to keep the unlimited breadsticks for themselves.
Because hey… when you’re here, you’re family!
Both Olive Garden and Red Lobster have been losing customers lately. CEO Clarence Otis says part of the problem is their inability to attract wealthier diners.
Red Lobster first opened in 1968 in Lakeland, Florida. Back then, a half dozen oyster plate cost just 65 cents!
It sounds like Darden has already found an interested buyer too! Investment firm Golden Gate Capital has reportedly offered to reel in this failing business and see if they can salvage it!
Hey, so long as you keep those Cheddar Bay biscuits on the menu, we think you might be able to keep Red Lobster afloat!
Where is Cheddar Bay anyway?