Cheddar Bay Biscuit Watch: Red Lobster Restaurants To Be Sold
You may have to start making your own Cheddar Bay Biscuits in the near future. Reportedly, Red Lobster restaurants face an uncertain future and may be sold or or spun off into a new establishments.
Reports the L.A. Times:
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.
So those burritos and taco bowls could be the death knell of the Cheddar Bay biscuit? The horror.
Despite being one of the largest companies in the casual dining game, Darden has been losing money, their earnings dropping 31% in the last quarter. However, if Red Lobster does spin off it won’t happen until 2015.
A new Red Lobster just opened on 125th Street in Harlem, right next to the Apollo Theater. How serious are those Cheddar Bay Biscuits, though? We’ll let The Boondocks explain the video below.
Photo: Red Lobster