Beloved CT Restaurant Chain Flirts With Bankruptcy After 50+ Years

There are dark clouds on the horizon for an American chain restaurant that has been in operation for over 50 years. The name is one you'll certainly recognize but in business circles it's now referred to as a zombie brand.

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According to a recent report from The Sun (U.S.) executives at parent company Thai Union Group are examining all of their options right now. The Sun says Red Lobster is in trouble. The report says Red Lobster lost over $20 million in 2023, adding:

It appears that Red Lobster is planning for a turnaround, bankruptcy, or fire sale.

Thiraphong Chansiri, the CEO of Thai Union Group reportedly said:

Red Lobster is done and over.

Filing the Chapter 11 papers seems to be the only formality in the way.

Red Lobster has four locations in the Nutmeg State

• Danbury - 34 Backus Avenue
• North Haven - 320 Universal Drive North
• Wethersfield - 1324 Silas Dean Highway
• Bridgeport - 4485 Main Street

What will this mean for Connecticut customers and employees? There is no word on the fate of specific locations because the decision has yet to be made. I guess the "Endless Shrimp" promotion was not the cash cow the suits had hoped for.

BTW, There is no such thing as "endless shrimp", eventually you run out of shrimp from a mathematical standpoint, or the human body buckles under the mercury barrage.

I went to Red Lobster one time when I was eight years old and I was convinced it was the fanciest place on the Earth. As an adult, I understand that is not the case. I know that Red Lobster is the place where you go and hide your face behind the menu like you're on a stakeout.