Being lower middle class, I remember that Red Lobster was the fancy place you’d go to for your birthday dinner.

@spice2thebrice

14 күн бұрын

Yeah i think I've went there once in my life. The nearest one from me was 1 hour away. Also, expensive dinners did not make sence if you're good at cooking at home.

@pleasedontwatchthese9593

14 күн бұрын

You explained it perfectly. It was always seen as the fancy place as lower middle class. I think I have been there maybe 1 time in 30 years.

@smontone

14 күн бұрын

Same

@KatIoannou

14 күн бұрын

I agree with you. Ive only gone there twice in my life because it’s so expensive.

@wintersprite

14 күн бұрын

I’ve only been once and it was years later than I was originally going to go. My mom had wanted to save up to take me when I was a teen but then our nearest location closed (Olive Garden came within a few years later, although that left three or four years ago, I think).

My dad knew the owner of our local red lobster. Red lobster "temporarily" closed the restaurant when the pandemic began, but at some point stopped paying rent and totally abandoned the site. The owner let my dad come in and take whatever he wanted, since red lobster wasnt coming back for it. His freezer was stocked with frozen Mac n cheese, cheesecake, etc bulk frozen foods from the restaurant, for months. He also took the dishes, cups, and silverware. Every time I eat at his house I'm like "yep, this is a red lobster cup/plate/fork."

@oregonsenior4204

14 күн бұрын

But what of the owner? Did he lose all that he'd put into the franchise?

@user-sp4gy7ko5l

14 күн бұрын

@@oregonsenior4204 They rent they do not own. All that stuff still belongs to red lobster / their liquidators.

@kimandre336

14 күн бұрын

This story sounds like a convincing plot of a drama movie.

@minarue

14 күн бұрын

Lmao you go boy, tell your dad I am proud of him

@dannydaw59

14 күн бұрын

Hope he didn't forget the cheddar biscuit mix. Those are so yummy!

What I learned from Bankrupt is: Decades old successful company? Going thru hard times ? + Private Equity ^ leveraged buyout = rich get richer and company gets gutted.

@chaostheory16

8 күн бұрын

Yup. PE generally cannot run companies. Their hearts aren’t in it. I have seen quite a few abysmal failures from PE-run companies, and personally experienced a vendor that was taken over by PE, which absolutely tanked their customer service/experience to an absolutely insane degree. It was like high schoolers were running it, at least from a customer’s standpoint. The height of incompetence and, to me, clearly they are just milking it as a cash cow. Awful.

@everythingsalright1121

8 күн бұрын

Sad part is that a fair bit of the companies on bankrupt were handled well at first

@somedude1901

7 күн бұрын

And everything we enjoy gets worse all the time

@SicMetalMaggot4life

5 күн бұрын

RIP Toys R Us

@giancarlofelicianocastaned9316

4 күн бұрын

​@@chaostheory16Unless it's Petco yeah your very Right.

Red Lobster opening a location in Japan seemed like a very bold move, as Japan already has a plethora of top of the line seafood restaurants all over the country.

@Mecks089

22 сағат бұрын

Based on what I've read a few years ago, most Japanese don't understand Red Lobster until they actually try it, a big thing was butter. Japanese never use butter on their seafood, so the fact that it's practically a nessisary ingredient with most Red Lobster dishes, it blew some of their minds.

We live in an era where half the companies in the country are run by firms who don't give a shit about the company they own. It's unreal.

@DeLorean4

13 күн бұрын

It really sucks being an employee at one of them and being powerless at seeing execs actively sabotaging and looting the company.

@DieselRamcharger

11 күн бұрын

singularity. if you own all the competition it makes no sense to keep them all competing and driving down your own bottom line. we are headed into a very dark future

@dunnowy123

11 күн бұрын

@@DieselRamcharger Well, I'm an optimist. Trends don't continue on forever, especially when consumer and worker backlash is bubbling so strong. I don't think it'll be the case forever; eventually, some businesses will tout that they are succeeding. by, you know, doing GOOD business, and others will hopefully follow.

@DieselRamcharger

11 күн бұрын

@@dunnowy123 You are free to believe whatever you want. Youre wrong. But thats fine.

@dunnowy123

11 күн бұрын

@@DieselRamcharger LOL ah yes, your view that "trends are unchanging and immutable, despite the obvious backlash the trend is attracting" view really stands up to the test of time. You have no way to predict the future any better than I do

The story is so typical of corporate America today. At some point in your video you mentioned that Red Lobster had plateaued, but they were “stable and profitable”. Unfortunately, for corporate America that doesn’t work today, we have to have quarterly growth eternally.🤬🤬🤬

@Lrules364

14 күн бұрын

They were only stable and profitable because they made serious wage cuts and scaled back the quality of the food. Darden did that in the hopes of selling the brand to someone else. It had been struggling for years.

@Alex-cw3rz

14 күн бұрын

Private equity

@jameswilkie9040

14 күн бұрын

Red Lobster went the way of U.S. Government. Complete and total gross misappropriation of $. Such as $ to support illegals, $ for the Ukraine War and Israeli WAR as well. Biden is foolishly spending Taxpayers $ and we are 35 Trillion indebt. No business sense at all.

@MrBibi86

14 күн бұрын

sadly, a profit or breaking even isn't good enough anymore. it has to be a 25% profit over last quarter or it's a loss

@ChromaKeyMystress

14 күн бұрын

weird that you say that because it was a foreign company that killed them - it did start with original owners, but the people they sold the company to who in turn sold the company and then cold it again is what killed it.

Anytime a private equity firm comes in, it’s only a matter of time before the doors close for good. Leasebacks are ALWAYS a sign the end is near because now every location is now that much less profitable because they now have to pay rent every month. I worked for a now defunct big box retailers who went through this. Our monthly rent in 2008 was 80 grand a month, or about a quarter of our monthly sales.

@ronniepratt8710

11 күн бұрын

Look what they did to Sears. Completely demolished the business and never had any intention of making it work in the retail space.

@TheRealMrAndrew

11 күн бұрын

@@ronniepratt8710 I worked there, too. Guess what happened to the store I worked in? Yep. Closed.

@imnitguy

9 күн бұрын

See Also: SEARS, KMART and Eddie Lambert. It's about the land not the business to them.

@victorlovisa9966

5 күн бұрын

@@imnitguy What you said is 100% correct, but the weird thing is, why is Lambert just sitting on the land so many of these Sears were located on? The Sears at my mall closed several years ago. The mall is still a successful Simon-owned mall with 3 other current anchors. Local media has interviewed Simon reps from Indianapolis on several occasions. The mall reps say they'd love the opportunity to move forward with the abandoned Sears site, but the owners (Lambert's company) are apparently in no hurry to sell. So the Sears space just continues to sit empty. It's curious to me.

@rarefruit2320

5 күн бұрын

@@victorlovisa9966I think companies aren’t going to be selling land as much with such high inflation. USD isn’t worth much and could go to zero overnight. And they could be getting paid through the new “B Corp” scam

This feels like the gutting of Toys R Us all over again. Original brand owners did nothing wrong and then in swoops private equity to destroy it.

From someone who’s worked in enough corporate companies over the years, I learned real quick that just because you sit in a lavish office/boardroom doesn’t make you an expert on what the company does that you work for and make policies and procedures on. You may be able to crunch numbers, but if you have no idea on how the actual operations work in the factories/retail/restaurants, etc…, you have no business being an executive for that company. And yes that is Al Bundy celebrating at Red Lobster after scoring 4 touchdowns in one game!

@RozWBrazel

15 күн бұрын

How many companies/chains have to be sacrificed before this lesson is learned? 😞

@DavidLimofLimReport

15 күн бұрын

@@RozWBrazelAnd this is why McDonald’s survives to this day. The career progression is seriously underrated. The top know what its like to be successful because they’ve actually been behind the counters and grills and know what is expected by the company and customer.

@dbdchristopher

15 күн бұрын

​@DavidLimofLimReport who really does that?

@zix1257

15 күн бұрын

and yet they are worshiped as gods by a certain demographic.

@Three_Random_Words

14 күн бұрын

@@zix1257 Like Jack Welch of GE fame? I've heard the execs who took over Boeing after the merger were big Welch fans.

Not gonna lie, when I saw Red Lobsters closing their doors around my hometown, my first thought was, 'Bright Sun Films' gonna do a video on this to make it real.

@KimberlyJohnson-ps8zq

14 күн бұрын

LOL! I passed by the Red Lobster close to my house. Went to check KZread a few hours later and saw the Bright Sun Films episode. I was like oh no! It’s really real!

@bregjejabra25

14 күн бұрын

Lol.

@scipioafricanus4328

13 күн бұрын

Was that Ed O’Neil (Al Bundy) in one of the ads?

@tomcerra6930

13 күн бұрын

I thought the same ​@@scipioafricanus4328

@kellychuang8373

13 күн бұрын

Also suspected that and who knows maybe could do a future video about the 99 Cents Only Store or the notorious Chi-Chis restaurant as another ideas though not right away really have to think on that anyway tell Jake about that or Google and YT it too.

I have fond memories of this restaurant. My Grandfather would take me every Friday night after my Grandmother passed away in 1986. The food was good during that time period but over the years it went down. I live on the Gulf Coast so many people asked themselves; why go to a place and be served frozen seafood when we have fresh seafood restaurants 10 miles down the road on the water. None the less, Red Lobster had its place in time and left me with memories of me and my Grandfather that not everyone had and that I will never forget.

@icosthop9998

13 күн бұрын

Nice 😊

@sonjagatto9981

12 күн бұрын

Schoene Erinnerung an Opa❣

@lookoutforchris

11 күн бұрын

I love these old commercials. Not a single black face.

@DieselRamcharger

11 күн бұрын

grew up in coastal virginia. had to drive past a dozen fresh seafood places to go to red lobster, but as kids we loved the place in the 80's. The cheddar biscuits were a large part of that! It went steadily downhill through the 90s though. I think we took my son once in the mid 2000's and it was pretty terrible.

@Tolltale

6 күн бұрын

Bruh that makes me cry 😭

"Bankruptcy is a word that is often misunderstood. It does not mean we are going out of business. It simply means that all of our locations except for maybe one in New York City, one in Chicago and one in Los Angeles are closing forever. "

@Dwall44

7 күн бұрын

So they’re not closing every single location? Please say yes, because I can’t process cheddar bay biscuits being a thing of the past lol.

@jaybruno3571

5 күн бұрын

@@Dwall44they sell them in the supermarket or make them yourselves you lazy dweller 😂

@cekojuna6930

2 күн бұрын

They can go out of business but gets picked up by locals. Blockbusters is a prime example. Held by locals but the company itself is bankrupt and closed down.

I worked for RL; they suck as a company in general. Abusive. While I was there I saw them fire an older woman who was only two weeks out from a company retirement. They dont do those retirement packages anymore but she was grandfathered in from the early days of the company. Instead of giving it to her they found an excuse to fire her without benefits, after probably nearly a half century of devoted service.

@ChromaKeyMystress

14 күн бұрын

I hope she sued them

@anthonysoto2788

13 күн бұрын

Her fault

@iwaswrongabouteveryhthing

12 күн бұрын

rough

@Dumbrarere

12 күн бұрын

​@@anthonysoto2788 how is that her fault? If she was devoted to her work and worked for that long, that would imply she did nothing to deserve being fired. It's literally greed at its finest.

@Alex3f4

12 күн бұрын

@@anthonysoto2788 How?

Your comment on mainstream media coverage is spot on. They tend to reduce things to the lowest common denominator. This is why I watch channels like yours for a much more detailed analysis.

@idontevenknow9758

14 күн бұрын

yeah he does a great job peeling back the layers. It was just like with Bed Bath, higher ups making just atrocious choices that compounded overtime.

@JasonAdank

13 күн бұрын

I swear, watching the MSM about literally anything makes you dumber...

@DieselRamcharger

11 күн бұрын

@@JasonAdank that is their point and purpose.

@shcdemolisher

Күн бұрын

@@DieselRamcharger Even though we should be reversing that. Maximum information, not dumbing anything down. We are gonna reach a point where the public NEEDS to know everything otherwise we fail as a civilization.

My parents loved Red Lobster. We went there all the time when I was a kid. We last went in 2015ish, not long after my dad's health started failing. My parents passed in 2022. Last month, my son randomly wanted to go to red lobster (not long after the bankruptcy announcement). So, we went. And we had a great time! It brought back a lot of memories for me, we both thought the food was delicious, and the staff was super friendly! They even let him "hold" a lobster. I think that's the real tragedy of these poor decisions made by these corporate entities: they impact our friends and neighbors who are just trying to make a living. I hope we can go back soon to support these folks. Good video!

When a Bigmac meal is $12-$20, good luck selling lobster...

@tylere.8436

10 күн бұрын

Tis why I just order the Big Mac itself

@everythingsalright1121

8 күн бұрын

@@tylere.8436 theres so many better things you could get for less DX

@tanikokishimoto1604

5 күн бұрын

​@@tylere.8436never order a big Mac. Buy ground meat and make your own burgers. Doesn't take all that long.

@tanikokishimoto1604

5 күн бұрын

​@@tylere.8436And, tastes a hellalot better.

@tylere.8436

5 күн бұрын

@@tanikokishimoto1604 I would, but I'm remodeling my kitchen. so after it's done

Worked at Redlobster for 13 years. Got into management after about 9 years. I will say they treated their managers fucking horribly. The VPs were constantly rotating in and out. We had 3 different directors durning my management string. Quit in 2016, and it was one of the best decisions I've ever made.

A young Al Bundy makes an appearance @4:00 :D

@mattwall4149

15 күн бұрын

I was just coming to call that out lol. Great catch!

@yasumitsunaka6094

15 күн бұрын

Ed O'Neill…

@Erik_The_Viking

15 күн бұрын

I noticed that too and then noticed your comment

@ZhovtoBlakytniy

15 күн бұрын

I was going to comment that, but looked to see if anyone else noticed.😀

@TC-tw5zk

15 күн бұрын

Good call...I wonder was that before married with children?

Last time I ate at red lobster my mom complained about the soup being too salty, and they said sorry it's pre-made.

@almostontimehero5415

Күн бұрын

Premade food is full of chemicals. Real food isn't supposed to last days.

Can't believe how much this channel has grown since I started watching. Guess that's what happens when you put out quality content. Thank you for the entertainment you have provided.

@BrightSunFilms

14 күн бұрын

Thank you so much!

I could hear the laughter underneath the words "private equity firm".

@somethinglikethat2176

15 күн бұрын

I love how offen private companies raise billions in funding funded by private equity with the dream of conquering all and when it comes time to cash out and go public the general market and public investors just look at it and say "you're losing money, you have no plan to make a profit" and the company turns and says "but look at the growth" and the public says "so you have a plan to get bigger and burn more money faster? Cool, hard pass." And that's why SPACs are popular I guess.

@Alex-cw3rz

14 күн бұрын

​@@somethinglikethat2176 that's not what happens they sold off all of red lobsters property raising 1.6 billion for themselves they then piled on debt to red lobster which doesn't effect the private equity firm while taking money out to give to themselves. They make money either way, it just destroys thousands of people's lives and national institutions. But private equity doesn't care because they get money.

Whenever a private equity firm is involved, hang onto your hats! 😢

@RF-vg5kv

4 күн бұрын

Its most likely the kiss of death for that company

How Amazon or Netflix isn’t hurling money at you for this work (maybe they are) is shocking. This series is better than anything I see on any streaming service.

Had a Red Lobster 10 minutes from my house that caught fire over 2 years ago. It's sat abandoned and was never even cleaned out, let alone renovated. That told me back then that the company was on the edge and not going to bother reopening it.

I hadn't been to a Red Lobster in years, but my family ate there not infrequently in the 80s and 90s. I had heard their quality had gone down... alas, what happens when private equity gets their pincers on a brand.

@narreths

15 күн бұрын

Pincers. Hah.

@goosenotmaverick1156

15 күн бұрын

We stopped going a couple years ago after successively worse and worse experiences with the food itself.

@KrustyKlown

15 күн бұрын

the quality was pretty sad in 80/90's... when I stopped going there

@jeremyjones7436

15 күн бұрын

Instead of “not infrequently”, how about you just say “frequently”

@dancooper6002

15 күн бұрын

What has killed Red Lobster has been the same process that has been killing similar restaurants and retail establishments for a few decades at this point. Red Lobster, just like Sears, is a company built to cater to the middle class. Its product and price point are intended for the middle class consumer. That pool of consumers has been disappearing as the American middle class has shrunk and largely disappeared. This decline has been a long time coming, and has many facets. Acquisition and destruction by Private Equity is a common theme in these cases, but it is not the root cause, more of a proximate process by which these things happen. Nor is the news of the endless shrimp promotion killing the chain remotely accurate, an $11 Million dollar loss cannot kill a chain of that size unless it was already on its deathbed. Often in cases like this people will point to a decline in quality of food or service the last time they were there and conclude that is the reason for the chain's decline. Some will even make the flippant comment that the chain "deserved" to fail. This however misses the fact that decline of quality and service is a symptom, not a root cause. As the chain begins to struggle economically it becomes less and less able to offer quality service and food. It does eventually produce a feedback cycle, but the notion that one day the chain stopped serving quality for no reason is fanciful. The root cause of the decline of Red Lobster is the decline of the middle class, which was in turn the result of the decline of manufacturing which came about from bad trade, tax, economic, fiscal, environmental, foreign, and industrial policies.

My sister asked me why Red Lobster went bankrupt. I answered her by saying, "If there are 3 restaurants you can't live without, Red Lobster is on no one's list." I think that's what best describes the company.

@joesmith9216

14 күн бұрын

one by me rules

@BoratWanksta

14 күн бұрын

They're the Applebee's of seafood. Of course, I'm not surprised Red Lobster isn't doing well.

@someguy1865

13 күн бұрын

​@@BoratWankstadamn. I kinda like Applebee's... even more so than TGIF

@commentbot9510

12 күн бұрын

It’s on mine 😭

Way back in the late 90s Red Lobster became a yearly tradition. Usually around the NFL playoffs and even if our team didn't win it was off to Red Lobster . It's sad to see a company so well know looking at an unknown future.

Lobsters everywhere are breathing a sigh of relief.

Fun Fact: Many of the Red Lobster's Canadian locations were originally defunct Ponderosa/ Bonanza Steakhouse restaurants.

@leonnahofer9138

13 күн бұрын

I live in Colorado and used to love Bonanza. Greatest salad bar ever! You didn’t even need the steaks lol. Edit to add : sadly there are no more Bonanzas.

@pathogenicobstacle32

12 күн бұрын

There are still Ponderosa and Bonanza locations in Puerto Rico

@billwendell6886

12 күн бұрын

If it weren't for them, I would never have eaten steak again, my mother cooked it into oblivion.

I've noticed a pattern with this smaller, affordable food locations. They start of with great quality and affordability, then expand beyond their capacity, quality goes down and become unaffordable. Resulting in bankruptcy I think if many restaurant chains like Red Lobster may have faired better had they remained fewer, with higher quality

@fallonsky_

14 күн бұрын

I mean thats pretty much the life cycle of most restaurants

@bumponlog

11 күн бұрын

That's pretty much in-n-out's strategy

Thanks for making the video. It was nostalgic and sad. Almost my entire family worked at Red Lobster since the early 90s. I remember in the late 2000s people would wait 2 hours to eat there even on non-weekend nights. My location had many many many people cross 10, 20, and even 30 year anniversaries. Red Lobster used to give everyone (even part-time people) vacation pay up until 15 years ago or so. For servers they would normalize your tips and give you that pay. It's crazy to think now. I caught up with some friends who were working there the last year or so. Many of the people who made our location great left because they couldn't do it anymore or were let go for arbitrary reasons. Things got bad. Servers are expected to have up to 10 tables. For context, when I worked there each server would have standardly have 3 tables, and sometimes 4 if things were really busy and we didn't have enough servers on that night. I hope they can survive and come back to being a great restaurant.

I still love red lobster so many great memories of family gatherings , birthdays , anniversary’s etc .

I've also noticed red lobster declined heavily in quality. The last few times I went too, the restaurant was almost completely empty.

@T3mikelee

14 күн бұрын

100% Couldn't agree more.

@josephreeves9347

14 күн бұрын

I heard someone close to me recently say that, when going out to eat after church or another occasion, if they get to Olive Garden or Cheddars or Texas Roadhouse or wherever, and the wait line is too long, Red Lobster is the backup plan because there's never a wait. So that's good....AND bad.

@ChromaKeyMystress

14 күн бұрын

if the restaurant is almost empty when you go to eat - it's not a good thing because you are eating old food.

@T3mikelee

14 күн бұрын

@@ChromaKeyMystress Yep. & it usually means the cook sucks. Which is why no one is there in the first place, bad prices &/or bad food. Lol.

@marquisethomas5611

14 күн бұрын

It didnt decline, it failed to innovate & everybody else caught up

A few weeks ago when I heard Red Lobster went bankrupt, the only thing that came to mind was Jake making a video on it as soon as possible

@evelynmelendez8318

15 күн бұрын

we both have the same mindset when i see like corporate business going out of business i say "ohh jake is probably going to make video about this soon". or like make video about this.

@ChristionGirl45

14 күн бұрын

I thought the same thing! And I'm glad he did!! ❤

@JennTrotter

14 күн бұрын

Great news, bye bye lobster 👍👋😁

@JennTrotter

14 күн бұрын

Great news, bye bye lobster 👍👋😁

@KatIoannou

14 күн бұрын

Same

When you upgraded to Red Lobs from Sizzler, you knew dinner was gonna be a treat!

I worked at red lobster for 9 years. From 2013 - 2022…. All of this makes so much sense. All these changes were definitely felt by the staff… I remember coworkers saying RL wouldn’t last long after Darden dropped them. It kinda crazy looking at the story this way and not thru the lens of an employee.

Last time I was there I was stunned by the pricing like everything was at least 125% more expensive than even 2022

@ghosty4

14 күн бұрын

Exactly. They don't provide an upscale experience, why in the hell were they charging so much?! It's a platter of deep fried food! Why is it almost $40?!

@richardcranium3579

13 күн бұрын

Have you shopped anywhere else lately? The government says it’s only “9%” inflation rate…….🤦‍♂️

@1johncabs

13 күн бұрын

Elections have consequences. Economics matter.

@Lord_Horker

13 күн бұрын

@@1johncabs Barely, our government suckles at the teets of mega corporations and the ultra wealthy hardly matters what senile 80 yr old is in office

@Lord_Horker

13 күн бұрын

@@richardcranium3579 Yeah, the inflation rate probably is 9% but these huge companies can just raise individual prices as much as they want so it feels way worse

I really thought you were going to say "Drowning in an ocean...of endless shrimp", you had me there for a second.

@NicholasShade-eq1ts

9 күн бұрын

This is sad.☹️ Sad like the phone card I'm on. 😢 I bought a 40 dollar phone card, because I didn't have enough for the 55 dollar one. And man I am paying for it. ♂️ 👞 I love my phone company, but the 40 dollar card is just not worth it. 📱 After 15 GB, the service goes to 2G on the 40 dollar card. I've been having some really crappy luck here lately. For about the last 2 years, or so. First, my dad died. Then my grandfather died. I haven't won any money at the casino in a while.🩷

At this point if a Private Equity firm buys something you can be certain that in just a few years it will be gone. Buy, load the firm with the purchase debt, sell the good stuff - like the land under the building, and collect rents as long as possible while servicing the debt you put them under. And when the banks won't lend you any more money you burn it for the insurance...no that was Goodfellas...bankrupt and walk away. Lather rinse repeat.

@shcdemolisher

Күн бұрын

Until we reach a point where PE's are gutted as a practice for hording too much money and when society improves.

Really amazed how well your channels have grown. Had a friend who worked at red lobster in the late 80’s . We called it crapster. Frozen and microwaved before that was the norm.

Red Lobster was high dining for us landlocked suburbanites of the 1970s. To a kid it was a fantasyland of exotic cuisine from storybook places. At the time seafood at home was tasteless planks of frozen white fish. I'd guess my last visit was around 1985, when the brand started to seem a bit old fashioned. My family also didn't really like the big restaurant chains anyway.

@lookoutforchris

11 күн бұрын

Red Lobster went black… and now they can never come back 😂

I am not from the US. And we dont have Red Lobsters in Austria where I am from. But I do have family in the US, and I have dined at a RL back in the 90's and early 2k's. And it was very delicious. Fast forward to 2022, I am married, and went back to the US with my wife. Iv been telling her how good RL was, sure it was probably not a high quality level of food, but still good. We went into the restaurant, and I swear... ALL the food we had had the same texture as rubber. No flavor, and looked like you got it all from a TV dinner. It was such a shock. My wife looked at me confused, because why would she not be. We went to a Dennies the next day...my idea. Lets just say I dont make any more food decisions in our house...

@stellamcwick8455

13 күн бұрын

To be fair, your impression was based on an experience you had nearly 30 years prior. The quality was much better then so you are not wrong. RL was good in 90’s. Your wife should forgive you on this one. The Denny’s decision though………. you are on your own for that one. That is unforgivable.😂

@Been.Here.Since.2007

13 күн бұрын

*Denny's ❤ Hasn't been good since the 1980s.

@JasonAdank

13 күн бұрын

lol. your wife was like wtf is wrong with you, this is sht! Im sorry honey, it was actually good once many decades ago....

@easycake3251

13 күн бұрын

@@JasonAdank That about covers it hah xD

@bluecoin3771

13 күн бұрын

I have no Red Lobsters in my state, we have enough local seafood joints that we don’t need RL.

I'm in my early twenties. My town's Red Lobster has been there for as long as I can remember. It was located in a place near a large road, prime restaurant location, etc etc. And every time we passed by, it was always bustling. Due to its pricing, my family went rarely, but it indeed felt like a special occasion, and it was always crowded with long-ish wait times. So imagine my surprise upon returning home from university and seeing the Red Lobster, still looking shiny and sharp from the new black roof rebranding, surrounded by yellow caution tape and utterly vacant. I don't know what will happen to that restaurant's dead husk... I wonder if it will be left abandoned and to rot. What a shame for such an old, popular place.

@Been.Here.Since.2007

13 күн бұрын

Pre 2000 life was best.

@lukestrawwalker

8 күн бұрын

Prime property location is always gonna bring buyers... it'll get sold and become something else

@Been.Here.Since.2007

8 күн бұрын

@@lukestrawwalker The Denny's are weed dispensaries 😄 They look so..... familiar.

Another great video Jake. Nice to see a lot of shots of the Burlington location which is actually the one I went to most recently.

I worked at a Red Lobster in 2011. It was an ok job over all. I worked in the kitchen and prepping shrimp for hours while standing on concrete was so much fun. I liked doing the expediting. I'm happy to see I left at a good time a couple years later. Good video

@bb-sd8eg

14 күн бұрын

I also worked there in the 90’s. It was one of my first jobs and I enjoyed the same positions. It was very rewarding working there in its hay day

Dude, these are always so entertaining and informative. Got to love the point in each story when the venture capital firm is inserted...doom is around the corner.

Thank you Jake for the videos and all the hard work you put into what you do. I enjoy your videos! I was wondering when your video would come out for RL!

4:00 I didn't expect to see Al Bundy in a Red Lobster commercial 😂😂😂

@ChromaKeyMystress

14 күн бұрын

yeah well he's an actor sooooooooooo

@bluecoin3771

13 күн бұрын

He didn’t tell Peggy he was eating there so he could finally have some good grub for himself.

@almostontimehero5415

Күн бұрын

When Mr. High school quarter back star eats at a place, you take notice.

And I’m sure the execs are eating Ultimate Feasts on their $475 million shrimp boat 😢

@Whitephosphorenjoyer

15 күн бұрын

“Shrimp boat” as in boat made of shrimp, boat shaped as a shrimp or a shrimp fishing boat?

@kos2919

15 күн бұрын

Are you dissing Forrest Gump?

@somethinglikethat2176

15 күн бұрын

​@@Whitephosphorenjoyer it's shrimp all the way down

@Three_Random_Words

15 күн бұрын

Run, swiggy, run!!

@IceTTom

14 күн бұрын

450 million dollar shrimp boat?? Stop 🤦🏻‍♂️

Thanks for this video. You hit upon something that, thanks to you, I now understand the full story as opposed to when I heard about the bankruptcy through the major news outlets. The perception I got from those reports, as you stated, was ".....it was the unlimited shrimp" that did this company in. Although I have never been to a Red Lobster before, I always saw it as a place to go on special occasions. Thanks again for your videos; I always enjoy them, and I have to say you did a better job of explaining the rise and the definite reasons for the fall of this company. Keep up the good work.

Dang, you started on this fast! Just heard the news about Red Lobster a few weeks ago. Loved hearing about their story, awesome job!

The decline of red lobster makes me really sad. I have very fond memories of going as a young kid. Private equity are parasites that will destroy our economy.

I love the fact that “shrimpfest was too successful” was partially related to the bankruptcy of red lobster

@anniemayflower9187

15 күн бұрын

You like killing animals

@MsMercury

15 күн бұрын

Right? 😂

@cgschow1971

15 күн бұрын

I'm calling BS on that. Lot's more going wrong.

@Troy_Built

15 күн бұрын

@@cgschow1971 Like being looted by management.

@somethinglikethat2176

15 күн бұрын

​@@cgschow1971 well yes, in the end it was a majority shareholder abusing their power to force RL take a big loss to direct money from RL into the majority shareholder's other businesses (lawsuits have already been filed). However previous owners made the mistake of waving the red flag of "all you can eat" at a customer base who view such offers as a personal challenge.

Every time again, I'm impressed by the research and preparation you put in your films, Jake. How many are you to make these documentaries? Keep up the good work!

@BrightSunFilms

6 күн бұрын

Thank you so much!

Thank you for this video! You did a great job in evaluating The situation, good insight

@BrightSunFilms

6 күн бұрын

Thank you!

Gotta stock up on them cheddar biscuit boxes from Sam’s Club, lads.

@KaminoKatie

15 күн бұрын

Or save up those imitation cheddar bay biscuit recipes

@LlamaBobby

15 күн бұрын

$2.99 at Big Lots!

@fallout560

15 күн бұрын

they're not chapter 7 yet, so those mixes are safe...for now

@SavingTheUndesireables

15 күн бұрын

@@fallout560thank god

@ratdude747

15 күн бұрын

@@fallout560 As popular as they are, likely it'll be like Chi Chi's salsa... somebody will buy the recipe and IP and keep selling it as a retail product if it gets liquidated more than likely. (Man do I miss Chi Chi's from my childhood!)

Man, the closures happened so fast recently, the 3 nearest me are gone. The fresh Lobster was always a highlight aside from grilled Shrimp and the Biscuits. RIP.

@riddell26

15 күн бұрын

Its wasnt fresh. The tank lobsters were for show. They served frozen lobster tails

@Black0bsidian

13 күн бұрын

You ain’t lyin. My grandma wanted to go on her birthday the day after it was CLOSED!!!!

@sayto_00

13 күн бұрын

My local area still got 10 Red Lobsters open if you're willing to go down to Florida for them lol.

@stever7157

12 күн бұрын

@@sayto_00Plenty of fresh local seafood places are around in Florida. Why waste time going to RL? If you are in Kansas, I get it.

Excellent video! Great information about the history of the company.

Red Lobster was my second ever job back before I knew what a chef or fine dining was! Was a great, formative experience for me!

One of the things missing from this analysis is that the consolidation of seafood suppliers hurt Red Lobster, and is probably the reason why Darden moved away from the brand. Before, there were hundreds of suppliers and they could negotiate good deals on seafood to make it affordable. With the consolidation (which Thai Union was one of), it was harder to get deals that would fit their business model. To be honest, it was going to be hard sailing for them, even before private equity raided their assets.

@ChromaKeyMystress

14 күн бұрын

You're not correct about that. With a name like Red Lobster, any sea food company would want them as a customer - a life long customer at that and they would bend over backwards to get them the seafood at the price they needed it. I know this because I work in food on that level. Their biggest problem was using an international supplier period. Had they used local fisheries in US and surrounding waters product, they would have kept their costs down since international shipping costs have quadrupled in the last 5 years. AND shipping delays cause issues too. Price per lb. will just keep skyrocketing - mostly because of the logistics.

@glennac

13 күн бұрын

@@ChromaKeyMystress Yet, as with farming, “local” fishing has consolidated and become more corporately operated over time. There are fewer and fewer “little guys” anymore which limits options for food chains. Factor in natural disasters (Hurricanes, etc), oil spills (Deepwater Horizon), and government regulations, and it’s no wonder food chains will partner with foreign suppliers who can guarantee a constant supply of product. Yes, it can be shortsighted. And no one can predict financial crises like 2008 or the Covid Pandemic. So many factors that can contribute to temporary success or long term failure. 🤷🏻‍♂️

Please do a video on Friendlys. It was one of the most well known chains in all of New England and the East Coast. I grew up in a small town that had 2 of them. They were shockingly popular. But by my late teens/early 20s (2014-16ish) they suddenly started losing popularity and then almost all of them closed across the east coast. I’d love to hear your take on their business.

@BrightSunFilms

13 күн бұрын

It’s on the to do list!

@UnicornDreamsPastelSkies

11 күн бұрын

Good Burger 2 filmed its' titular restaurant scenes inside a former Friendlys in North Providence, RI.

@kratze1738

11 күн бұрын

I used to work at a Friendly's in Ohio when I was younger. It wasn't very good and neither was I; merely the fact that they were letting me wait tables (!) was a bad sign of things to come. The ice cream was the only really special thing on the menu, the rest of the food was meh. And if you were one of my mean customers, I sincerely apologize and promise you I got out of the waiting business quickly after that.

Wow, this is an awesome turn-around, Jake. Nice job! 👏👏👏

We didn't eat out much as a kid, mostly Wendy's or Burger King, but Red Lobster was a special occasion. I've only been there twice growing up.

man, this hits a little hard tbh. when i was a kid, Redlobster was this family meet up restaurant. aunts, uncles, grandparents, and cousins would all meet up there every so often for a seafood meal and catch up. the one near where i grew up had a lobster tank in the waiting area (the residents of which usually found themselves on man a meal plate) and i loved to reach down and try to grab one when my grandparents weren't looking.

Honesty it feels odd to be an active participant in the bankruptcy of a company. I ate 4ish lbs of shrimp last year during their endless shrimp promotion. I went in coming for a deal and walked out putting them in the red like a bunch of other people did too.

@rickster100100

15 күн бұрын

and yet your heart didn’t explode with high cholesterol? Congratulations!!

@Nmdixon-cu7vm

15 күн бұрын

@@rickster100100when your bipolar, dry comment muscles through to be extra sarcastic…but it’s just cringey af. That’s you right now.

@brandon8900

15 күн бұрын

.

@JohnClark-tt2bl

15 күн бұрын

That didn't do it. They got screwed, but it wasn't by their customers.

@Azurethewolf168

15 күн бұрын

@@rickster100100cholesterol isn’t even that bad for you, enough of anything is dangerous.

QUALITY documentary again Jake! Such an interesting episode with great research, narration, script and editing. Tbh, I have always hated Red Lobster lol. I was never impressed with their food. Besides their tasty cheddar biscuits, locally owned seafood restaurants where I grew up is what I preferred. But you made this video so entertaining that I couldn’t take my eyes off of the screen haha. Also, thank you for confirming @ 7:23 that Brennen Evangelista is a time traveler who worked at Red Lobster as a bartender in the early 2000’s lmao🤣 @bevo tell us all about it. I almost have to be positive that this was intentional when you made the video haha. Cheers. Love ya Jake. Keep up the great work.

Great video, and strong City Planner Plays vibe on the outro; thought I had somehow clicked over to one of his videos.

That's Ed O'Neil at 4:02!

@rrmarlatt

15 күн бұрын

Must have been after he scored 4 touchdowns. 😂

@Nmdixon-cu7vm

15 күн бұрын

@@rrmarlattfor Polk county high!

@saintrocketIX

15 күн бұрын

​@@rrmarlatt In one game!

@ZhovtoBlakytniy

15 күн бұрын

He really liked that Red Lobster! Great acting 😊

@twenty47pimpin

14 күн бұрын

No, that's Al Bundy 😂😂

As a former red lobster employee I enjoyed my time there. When Darden sold it to golden gate and thai union I left about a year later. I am very sad to see it close down.

@pistachiosandpopcorn7146

15 күн бұрын

Thank you for your service. Red lobster has been a fave of mine since pretty much birth. I haven’t been in like three years…but I still love it and at one time…talking for 20 years…I was going at least 15 times a year….and probably more like once every two weeks. So yeah…truly heartbreaking.

@GeminiWoods

15 күн бұрын

Worked there for 13 years. It was a great place to work as an employee, but being a manager was a nightmare.

@michealdionne5456

15 күн бұрын

@@pistachiosandpopcorn7146 Thank you. Cooking for people was fun. Always enjoyed hearing stories like yours.

@michealdionne5456

15 күн бұрын

@@GeminiWoods yeah basically why I left.

@swilkobarfingtoniii1642

15 күн бұрын

The Canadian Red Lobster restaurants were one of the very few that offered "employee benefits" like eyeglasses and some other stuff. It was always a desirable job for cooks and they had relatively low turnover in the kitchen compared to most "corporate kitchens."

I live in Canada. There was a Red Lobster location well situated for the tourist trade -- in a cluster of hotels and other restaurants (at varying price points). I last ate there in 2000 or 2001. It "closed for renovations" a few years later, and it never reopened. Eventually, the space was occupied by a new restaurant. To the best of my recollection, the food and service were both very good.

Now, it’s not unheard of that a private equity firm can acquire a business and successfully continue to run it; and oh boy Thai Union successfully ran it.. into the ground. Thanks again for making these videos, Jake! A lot of these bankruptcies and executive failures would be forgotten to history, but you continue to bring it to the limelight, which many like me greatly appreciate

@Andum48

13 күн бұрын

Ok I'll bite, name a business successfully run by a private equity firm for more then 5 years.

@cpnquack3655

12 күн бұрын

@@Andum48 After a bit of research, I stumbled upon Blackstone Inc., a massive private equity firm. They run many companies, mainly Hilton Worldwide Services, which is also a massive hospitality company in it of themselves: Blackstone has held an ownership stake in the company since 2007.

Their endless shrimp special has been a tradition for me and my mom. It's going to be really sad if Red Lobster fully goes under.

These stories are always so interesting!

It feels weird watching this for free. You are doing great work

@BrightSunFilms

6 күн бұрын

Thank you!

Al Bundy alert a @4:00! We were just talking about how many restaurant chains have gone under and Red Lobster came up. This is what happens when a company gets into the restaurant business and knows nothing about running one. Never a good sign.

@CheapCheerful

14 күн бұрын

Nope. They were just the 'sucker' that bought it, after private equity gutted it, and the original owner got out because there simply isn't enough middle class families left with money to spend on seafood. Red Lobster cannot operate without a middle class.

I was thinking "wait haven't I seen a video like this already" but then I remembered that was the Ruby Tuesday one lol

@HunterTN

15 күн бұрын

They both kind of suffered from the same fate. Ruby Tuesday had a theme, stuff all over the walls and at least in the Knoxville area they would have memorabilia specific to the local high schools or locally known people. Red Lobster pretty much always looked like someone's idea of what a lobster house in New England looks like. They both eventually changed to completely sanitized dining areas, nothing to differentiate themselves from anyone else. They took away things that people liked and replaced them with things people were indifferent to. They badly misunderstood why their customers came to their restaurants, and tried to be something that no one really wanted.

@jamesbraun9842

14 күн бұрын

The reason Ruby Tuesday was the original founder of the company was always involved. (After he retired and left, the company tanked and became any other family style restaurant.

Since 1987 (the year we got married), my husband and I have had lunch at Red Lobster every Christmas Eve. It's kind of sad to lose that tradition. 😥

As someone who lives in the Pacific-Northwest, going to a Red Lobster never appealed to me when I have access to local seafood restaurants. Prices were better at said local seafood restaurant and the quality of the food was top notch. Selling a company to a Private Equity firm (or Vulture Capital firm) is a sign to start looking elsewhere as both a customer and employee, it's downhill from that point onwards.

Private equity ruins everything.

@ashkitt7719

15 күн бұрын

Honestly it's just the innate logic of capitalism itself. It's a house of cards. That being said, I don't see something like Red Lobster existing in a socialist society, probably due to culture war "Owning the Middle Americans" mentality, so you win some, you lose some.

@Andum48

13 күн бұрын

True, but that's by design. What's shocking about this story is the found someone to buy their trash

@markn866

13 күн бұрын

Someone has to process junk and failing companies.

I knew this video was coming as soon as the bankruptcy was announced. Keep up the amazing work!

@BrightSunFilms

15 күн бұрын

Thank you!

@whatidkdunno8950

15 күн бұрын

@@BrightSunFilms YOOOOO HES HERE NO WAY

Bro ur channel just came back into my feed ur like the best channel ever

It’s sad that it’s falling. This place was my childhood. The ones near me have all closed. We heard from people who worked there that they weren’t told that their location was closing. They came in for work to see the doors locked and a note saying they closed down. I hope they can make a comeback.

I live in a coastal area with lots of good local seafood restaurants. It has been many years since I have been in a Red Lobster, and I don't remember being particularly impressed. With so many good local restaurants, it is hard to see how Red Lobster can compete. There are still a few scattered around. Out of curiosity, I looked it up and found that the one closest to me has closed, and the one I remember visiting years ago is long gone. I will be surprised if the few remaining locations in my area last much longer. This is a restaurant chain that has run its course. If I were an employee at one of the locations that is still open, I would be looking for another job and would get out of there as soon as possible.

@maxpowr90

15 күн бұрын

Basically the reason why there are like 2 Red Lobsters in New England.

@contentsdiffer5958

15 күн бұрын

Red Lobster was always more about giving a coastal-ish experience to people that lived nowhere near the ocean. If you live by the ocean, yeah, you have entirely different expectations. It would be like getting your typical supermarket tomatoes after living in the Italian countryside.

@BoratWanksta

14 күн бұрын

​@@maxpowr90Red Lobster already closed 96-98% of their New England restaurants, like back in the late 90s/early 2000s. I'm not surprised they didn't do well sales wise, in that region....

Loved the video - quick note on the sale lease back: This was a tax dodge more then anything else. They created a vehicle called a REIT and put the real estate in there and sold that - while maintaining a some large stake if i recall. The reason this unlocks value is that REITs are not taxed on a corporate level - they are flow through entities. So, you move the profits from red lobster to this reit through the lease payments. This makes red lobster look less profitable -> less taxes. In turn the REIT is more profitable but would you look at that they don't have to pay taxes -> less overall taxes.

Growing up in Canada in the late 90s early 2000s red lobster was a staple in my family. Some of my earliest memories is sitting in red lobster in Ottawa Ontario. I'm calling my local red lobster this morning to see if they have heard when it's closing. I'm definitely making a few trips there before I'll never have it again. This is borderline heartbreaking to see all these wonderful restaurants we all grew up in starting to close. Newly modern restaurants don't have half of the ambiance these restaurants had. They were more than just a restaurant. RIP red lobster.

Great thanks Jake

If you're ever up to it, a bankruptcy video on General Motors would be welcomed! My great-grandfather, grandfather and dad all worked for GM, and when I was born in 1960 I was given shares of GM stock, which of course became worthless when GM went bankrupt.

@BrightSunFilms

17 күн бұрын

Already did one! kzread.info/dash/bejne/qnyisqZspNeonKQ.htmlsi=RE2cVzFIkxxYgWLp

@tim3172

15 күн бұрын

Uhhh... GM stock is worth 45 bucks a share. It's far from "worthless." It's all-time high was ~$63 in 2020 before Trump let the bottom fall out of the economy. But, it's still far in excess of its all-time average price.

@obsidian....

15 күн бұрын

​​@@tim3172lolol - I hope you're kidding and realize that GM went bankrupt in 09 and all their stock became worthless. . The current stock has nothing to do with all that was held in 08'

@brandon8900

15 күн бұрын

​​@@tim3172it's not the same GM, so his shares were worthless. When General Motors (GM) went bankrupt in 2009, the restructuring process resulted in the creation of a new entity, often referred to as "New GM." Here's a summary of what happened: 1. **Bankruptcy and Restructuring**: GM filed for Chapter 11 bankruptcy on June 1, 2009. During the restructuring, the company's viable assets were transferred to a new entity, also called General Motors Company, while the old entity (referred to as "Old GM") retained the non-viable assets and liabilities. 2. **Shareholders**: Shareholders of the pre-bankruptcy GM (Old GM) did not retain their shares in the new GM. The stock of Old GM (GM) became essentially worthless. The new GM issued new stock, which started trading publicly in November 2010, after the company emerged from bankruptcy. 3. **Government Ownership**: As part of the bailout and restructuring process, the U.S. Treasury and other governments received significant ownership stakes in the new GM in exchange for the financial support provided during the bankruptcy. 4. **New GM IPO**: The new GM held an initial public offering (IPO) on November 17, 2010, allowing it to return to the stock market. The ticker symbol for the new GM stock is GM. In summary, shareholders of the old GM lost their investments, and new stock was issued for the restructured company, which began trading in 2010.

@brandon8900

15 күн бұрын

​@@tim3172false, it was restructured with new shares and the old shares prior to bankruptcy became worthless.

My local (30 minutes away) location has gradually been going down hill. From the food being off to the removal of the iconic lobster tank. There's better seafood locations, but the nostalgia of going for birthdays still makes this hurt

I have news for everyone. People can't afford Red Lobster anymore.

That endless shrimp did they ass in. Currently work for another Darden chain, and i dont see us going that route.

Got my mother to watch your movie on Prime. Never watched you before, but she really enjoyed it.

@BrightSunFilms

13 күн бұрын

Tell her I say hi!

Rip the cheddar bay biscuits

@BensMostlyEconomyClassReviews

15 күн бұрын

😭😭😭

@ProJanitor

15 күн бұрын

Sold at the store in the frozen aisle now

@Arkiasis

15 күн бұрын

Costco sells them. At least where I live.

@ZhovtoBlakytniy

15 күн бұрын

Its Bisquick, garlic, and butter I've heard.

@ProJanitor

15 күн бұрын

Red Lobster Frozen Cheddar Bay Biscuits - 8ct/15.66oz

Great explainer video! (As always) congrats. Super sad to learn about this one... used to love eating there when traveling to US

I’ve never ever been to a Red Lobster but still saw it on every exit on roadtrips as a kid

Never ate at a Red Lobster before, but hi and thanks for the video Jake!

Thank you for actually reporting on what happened with the company. I was very confused by the news of it. The red lobsters near me are doing ok. Clearly quality has dwindled but I just put that to everything now a days. Lowering quality and increasing prices.

my first thought when i read the news about red lobster closing was "i can't wait for jake to do an episode on it" and here you are! 😁

Great work

4:00 ~ Wow! Even Al Bundy loved eating at Red Lobster.

@bmstylee

15 күн бұрын

That's how you celebrate 4 touchdowns in a single game.

@ChromaKeyMystress

14 күн бұрын

I'm sure he would appreciate being called by his real name of Ed O'Neil

@bmstylee

14 күн бұрын

@@ChromaKeyMystress fun fact about Ed O'Neil. He's a black belt belt in Brazilian Juijtsu

@NGMonocrom

14 күн бұрын

@@ChromaKeyMystress Ironically, Al and Ed have the same personality. He's more famous as Al than as Ed.

@cokesquirrel

13 күн бұрын

@@ChromaKeyMystress you know what if you want to write something that people would like to see may I suggest your suicide note

I remember seeing so many ads for Red Lobster when I was watching TV as a kid, it was very nostalgic. Sad to see them go