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May 16, 2014 06:14 AM

Red Lobster Sold...................

Sold to Golden Gate Capital Group. Generally when an investment group buys a struggling chain like this they breath some fresh air and ideas into the stagnant brand. I would say if there was anything that could "save" Red Lobster this might be it. Look for massive restructuring, closings of under performing stores and renovation of existing locations with a "new and improved" menu with slightly higher prices, it's the investment capital way!!!

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  1. Golden Gate Capital owns California Pizza Kitchen and On the Border (the latter actually I think they may have sold). So they have some experience in the industry.

    1 Reply
    1. re: drongo

      Did not know that....thanks. That makes this much more interesting to me. I was at a CPK a few months ago for the first time in many, many years and was pretty impressed overall.

    2. Here in Cenral PA RL is wildly popular. I think most locations in the area have been recently renovated.

      4 Replies
      1. re: melpy

        Dead Lobster is also popular in the middle of Canada, about as far from fresh seafood as you can get geographically. And it's not cheap. I've always wondered why people flock to frozen seafood cooked by high school students when you can get much better for similar prices at independent restaurants.

        1. re: hal2010

          I've lived in places where there are no similarly-priced independent seafood restaurants or where those restaurants are actually worse. Or their specialties are things like walleye and perch (which I don't eat) and not crab or shrimp (which I do eat).

          1. re: FoodPopulist

            Oh, for a restaurant with some walleye and some lake perch! We live in landlocked West Georgia, where catfish is the only "seafood" offered at a restaurant unless you go to Red Lobster. So it's pretty popular here.

            Instead of that, I buy my fish at the local Kroger - there, I can get walleye, monkfish, cod, salmon, oysters, etc...and just cook 'em myself.

            1. re: kitchengardengal

              Sort of makes you want a cartoon poster with the theme "Where's Walleye".

      2. Article about this in BusinessWeek entitled "How Old People and Pricey Shrimp Turned Red Lobster Into a Castoff"

        1. I read this story with interest. The RL near my house is old and dusty - it probably still contains the dead flies and dust that I saw there last time I ate there - sometime in the 90s.

          Yet the parking lot is always packed full. One of life's mysteries.

          I will be interested to see what changes.

          1. There are no Red Lobsters in my state (MA) according to their website.

            With good reason, I guess.

            Lobsters were $1.99 a pound last summer.

            But even if I lived in Iowa, I'd never go.

            5 Replies
              1. re: jrvedivici

                Missouri? while better can be found, for the sake of familial harmony one puts one's 'game face' on, accepts it for what it is and orders carefully and simply.

                1. re: hill food

                  I got gift cards twice at Christmas a few years ago, and you're right hill food, careful and simple is not bad. Grilled fish and biscuits with gift cards are perfectly fine. I'm not going without a big discount as I live on the Gulf Coast. Sometimes you have to bite the bullet with family, we've all been there.

                  1. re: James Cristinian

                    Same with Applebee's and Olive Garden. Sometimes you just find yourself there and the trick is to order small and simple.

              2. re: C. Hamster

                Agree about the stupidity of opening RL in Mass or for that matter Rhode Island. Years ago we were dragged to RL in RI due to some visitors from OHIO who "loved" RL. The food was tired and place was dingy. BUT now we live in the western reaches of Mass we drove over to the Albany area and RL is mobbed at least at lunch. There is a wait to get in by noon and the place is clean and the staff on their toes but of course it isn't Cape Cod.