Red Lobster
Golden Gate Capital's sale-leaseback stripped Red Lobster of real estate assets, saddling it with unaffordable lease obligations. Filed Chapter 11 in 2024.
- FOUNDED
- 1968
- ACQUIRED
- Golden Gate Capital, 2014, $2.1 billion
- IMPACTS
- 1 documented
Editorial Record
maintained by DeathbyPE. Every claim links to a public source.Timeline
Red Lobster founded
Acquired by Golden Gate Capital for $2.1 billion
Red Lobster filed bankruptcy after Golden Gate Capital's sale-leaseback
HighClosure / BankruptcyGolden 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
Before / After
Locations
reported 2024
before ~700 restaurants
after ~518 restaurants
-26%
Community Reviews
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Tracked Locations
CA · 1
9217 Main St
Los Angeles, CA 90001 · 555-576-8647
FL · 2
6967 Main St
Orlando, FL 32801 · 555-690-3576
4227 Main St
Tampa, FL 33601 · 555-616-5771
NC · 1
9210 Main St
Charlotte, NC 28201 · 555-846-8007
NY · 1
6106 Main St
New York, NY 10001 · 555-332-3690
PA · 2
7795 Main St
Philadelphia, PA 19019 · 555-371-1130
7065 Main St
Pittsburgh, PA 15201 · 555-686-4964