Red Lobster is closed this week We have 50 restaurants in more than 20 states, including two in Dallas and two in Tyler and Longview on the east side of the Dallas-Fort Worth area.
The two red lobsters affected in Dallas were near Interstate 635 and Greenville Avenue in Lake Highlands and near Interstate 35E and Loop 12 in northwest Dallas. These were the last remaining Red Lobster's on the Dallas mainland, but they continue to operate in North Texas in Arlington, Denton, Duncanville, Fort Worth, Frisco, Irving, Lewisville, Mesquite, North Richland Hills, Plano, and more.
Executives at the Orlando-based restaurant reportedly are considering filing for Chapter 11 bankruptcy. bloomberg news. The article cites “expensive lease contracts and labor costs'' as problems. “Filing for bankruptcy would allow the company to remain open while it works on a debt reduction plan.” bloomberg Said.
restaurant business We tracked the restaurant's turbulent past 20 years. Their story is a must-read that explains Red Lobster's $3.3 million mistake in selling unlimited snow crab for $22.99. When the price of snow crab went up, the price of Red Lobster went down. “The Endless Club is now remembered as one of the biggest marketing blunders in industry history. A classic lesson in the risks of offering free refills on unstable products.” Author Joe Gaskow Mr. Ski reported.
Almost 20 years later, the company decided to sell the $20 Infinite Shrimp. This was an even worse mistake than the crab, with Red Lobster posting an operating loss of more than $11 million for the same quarter in 2023. (It's fair to ask, has the company learned its all-you-can-eat lesson?)
The company dates back to 1968 and was the brainchild of restaurateur Bill Darden. Darden and Dallas' Norman Brinker will go down as two of the most influential entrepreneurs in American casual dining. Red Lobster was “not only one of America's first seafood chains, but also one of the first casual dining concepts,” Guszkowski wrote.
Red Lobster has been struggling since the COVID-19 pandemic. In the past three years, the company has replaced four CEOs. newsweek report.
Online auctioneer TagX Brands has already sold equipment from nearly 50 closed Red Lobster stores. Dallas' two horses are not included in those auctions.
The closed Red Lobster in Dallas is located at 10290 E. Technology Blvd. Located at 9069 Vantage Point Drive. Find an open Red Lobster here.
