The Red Lobster folks may be able to share some thoughts with the BOBE team members!
Darden to Sell or Spin Off Red Lobster
Looking to boost shareholder value, Darden Restaurants, Inc. is looking to sell or spin off Red Lobster, suspend new Olive Garden openings, and implement more limited growth of new LongHorn Steakhouses.
In a move sure to set the culinary world and classy guys everywhere reeling, Darden has announced that it will either sell or spin off its Red Lobster restaurants.
Adding to the devastation, the company, which also runs Olive Garden and other fine-dining establishments, said it will suspend the opening of new Olive Garden locations and slow down new locations for LongHorn Steakhouses.
Why, you ask? Dear God, why??
Because Darden isn't doing so good. It seems that consumers are turning their noses up at hoity-toity sit-down places like Red Lobster and Olive Garden these days in favor of cheaper chains like Chipotle.