Red Lobster
PE-Owned1 Documented ImpactGolden Gate Capital's sale-leaseback stripped Red Lobster of real estate assets, saddling it with unaffordable lease obligations. Filed Chapter 11 in 2024.
Ownership Information
Red Lobster is owned by Golden Gate Capital. Private equity ownership often leads to cost-cutting, price increases, and reduced quality of service as firms prioritize returns for investors over customers and employees.Learn more about PE ownership impact →
Timeline
Red Lobster founded
Acquired by Golden Gate Capital for $2.1 billion
Red Lobster filed bankruptcy after Golden Gate Capital's sale-leaseback
Golden Gate Capital sold Red Lobster's real estate and forced it to lease back at above-market rates. Customer count dropped 30%. The $20 "Endless Shrimp" promotion lost $11M. Filed Chapter 11 in 2024, closing 130+ locations.
How Private Equity Trashed Red Lobster
CNN Business →Before vs. After PE Acquisition
Locations
Reported 2024
Before PE
~700 restaurants
After PE
~518 restaurants
↓ 26%
Community Reviews
Share your experience →Tracked Locations
CA (1)
Los Angeles
9217 Main St
Los Angeles, CA 90001
555-576-8647
FL (2)
Orlando
6967 Main St
Orlando, FL 32801
555-690-3576
Tampa
4227 Main St
Tampa, FL 33601
555-616-5771
NC (1)
Charlotte
9210 Main St
Charlotte, NC 28201
555-846-8007
NY (1)
New York
6106 Main St
New York, NY 10001
555-332-3690
PA (2)
Philadelphia
7795 Main St
Philadelphia, PA 19019
555-371-1130
Pittsburgh
7065 Main St
Pittsburgh, PA 15201
555-686-4964