Latest news with #RedLobster
Miami Herald
a day ago
- Business
- Miami Herald
Struggling fast-food chain learns Chapter 11 bankruptcy fate
A number of restaurant chains have recently filed for Chapter 11 bankruptcy protection and come out the other side. Red Lobster closed dozens of stores but continues to operate. The same thing happened with Hooters, Bucca di Beppo, On the Border, and TGI Fridays. Boston Market was not allowed to file for bankruptcy due to its owner not providing enough information and has essentially closed. Don't miss the move: Subscribe to TheStreet's free daily newsletter Bertucci's currently sits under Chapter 11 bankruptcy protection and that chain has shrunk to about a third of its size at the height of its success. In addition, many fast-food franchisees, including chains representing hundreds of Burger King locations have filed their own bankruptcies. Once a company asks a court for Chapter 11 bankruptcy protection, it buys itself time. That gives it a chance to negotiate with everyone it owes money to. For restaurants, that usually means banks, food distributors, landlords, and sometimes employees. Related: Popular brewery abruptly shuts down all locations, no bankruptcy Staying open either requires new funding or making deals with everyone the company owes money. If one debt-holder balks at the terms, that could throw the whole deal off and lead to a Chapter 7 bankruptcy liquidation. That can happen when one or more of the groups owed money thinks they will be better off with their share of whatever an auction of the company's assets brings in. Now, a popular regional fast-food chain that filed for bankruptcy in September has learned whether it will continue to operate. Eegee's may not be a national name, but it's a well-known brand in Arizona with deep roots in the community. "The Sonoran Desert is hot…And Tucson in September of '71 was no exception. Blistering pavement. Pools so warm they felt like bathwater. AC cranked to the max. Enter our founders to save the day (and all the days to come), driving around the city in their frozen lemonade vending truck, sweetening the moment at schools, sporting games and concerts with the silky smooth, frosty deliciousness of the now iconic eegee," the company shared on its website. And, while the eegee may have remained a local tradition, it's one the chain has worked on developing over the years. "Today, not only have we mastered our eegee to be the perfect blend of real fruit and frozen goodness, but we've also added iconic subs, such as the original grinder, along with salads, fries and ranch tasty enough to drink. (Seriously, we've seen it done), it added. More Food: Applebee's brings back all-you-can-eat deal to take down Chili'sPopular Mexican chain reveals surprising growth plansStarbucks CEO shares plan for a whole new menu The menu now offers eegees in lemon, strawberry, piña colada, skinny berry and a flavor of the month. There's also a "fizz" version with a "touch of soda," and a teagee version that's mixed with iced tea. Eegee's also offers subs, sandwiches, salads, and more. Eegee's filed for Chapter 11 bankruptcy back in December. At the time of the filing, the company closed five of its locations, four in Tucson, and one in Phoenix. The closings affected 74 employees, but they were all offered positions at other locations, according to Eegee's CEO Chris Westcott. When the chain filed, it blamed its problems on the lingering impact of Covid. Westcott called the filing a "neccessary step," but did not share any plans for how the chain planned to move forward. The restaurant has shared that it has been purchases by an affiliate of Gladstone Capital Corporation. Related: Beloved local family diner closing after nearly 40 years "The acquisition was approved by the United States Bankruptcy Court for the District of Arizona, after the months-long Chapter 11 sale process. The chain consists of 25 restaurants in the Tucson and Phoenix areas. All of the locations will remain open and operational," KGUN Tucson reported. "We have a comprehensive plan and financial backing that will reinvigorate the iconic Eegee's brand while keeping the best of its history. We will continue investing in what truly matters – our customers and the communities that Eegee's has served for over 50 years," Westcott shared. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
USA Today
a day ago
- Climate
- USA Today
FEMA chief doesn't know what hurricane season is, so good luck
FEMA chief doesn't know what hurricane season is, so good luck | Opinion How is it possible that a fully grown, human American has never heard of hurricane season? There's a Jimmy Buffet song titled 'Trying to Reason with Hurricane Season,' for Pete's sake. Show Caption Hide Caption NOAA, FEMA cuts will impact hurricane season, experts warn The Trump administration's budget cuts at NOAA and FEMA will have an adverse affect on how the U.S. responds to hurricanes, experts warn. So David Richardson, head of the Federal Emergency Management Agency, said he only recently learned there's such a thing as 'hurricane season.' That's like the manager of a Red Lobster restaurant saying he only recently learned about 'Lobesterfest,' with the important caveat that a dumb Red Lobster manager's ignorance is less likely to result in widespread death in America's coastal regions. Welcome to the Trump administration, where a person like Richardson who has no experience in emergency management can ascend to the top job at FEMA by checking President Donald Trump's three key boxes: white, male and radically unqualified. How has the head of FEMA never heard of hurricane season? Richardson's apparent lack of basic meteorological knowledge brings into question his ability to do his job, given that hurricane season, which is, in fact, real, started June 1 and lasts through the end of November. How is it possible that a fully grown, human American has never heard of hurricane season? There's a Jimmy Buffett song titled 'Trying to Reason with Hurricane Season,' for Pete's sake. Opinion: Sen. Joni Ernst helps GOP find its authentic voice: 'We all are going to die.' As news of Richardson's comment spread, the Department of Homeland Security released a statement claiming it was 'a joke.' That doesn't help much because: a) If it was a joke, it was a very dumb joke, Dave!; and b) It probably wasn't a joke, since Richardson seems like the type who would proudly conclude, 'Hurricanes can't hurt us if we don't believe in them!' The truth, I'd posit, is closer to this: The entire Trump administration is a joke and Americans are the punchline. Hurricane season is here, and FEMA doesn't have a disaster plan On May 15, the Wall Street Journal reported on video of a FEMA meeting it obtained. The video made it clear then that with two weeks to go before hurricane season started, the new FEMA chief had yet to come up with a disaster-response plan, and the paper reported: 'He also seemed to express surprise at the vast range of FEMA's responsibilities, raising concerns among career officials about his ability to run the nation's disaster-management agency.' In the video, Richardson said: 'I feel a little bit like Bubba from 'Forrest Gump.' We've got hurricanes, we've got fires, we've got mudslides, we've got flash floods, we've got tornadoes, we've got droughts, we've got heat waves and now we've got volcanoes to worry about.' North Carolina Gov. Josh Stein: FEMA is broken as we brace for a new hurricane season | Opinion Hoo boy. If you live anywhere near an ocean, I recommend moving to the Midwest for the season. FEMA is expected to do the same as last year despite massive cuts So remember, two weeks ago, there was no FEMA disaster plan for hurricane season. How about now? Per the Wall Street Journal on June 3: 'Richardson told staff Monday that the agency would be returning to the same guidance for hurricane response as last year. Some were confused how that would be possible, given the agency had already eliminated key programs and sharply cut its workforce.' According to Journal sources, Richardson said: 'Here's the guidance. It's the same as it was last year.' Cool. So, President Trump, who spends most of his time claiming President Joe Biden was senile and incompetent, will now just allow his FEMA head to use the plan created under the Biden administration. Cool, cool, cool. Opinion: Manufacturing down, food expensive and ICE is deporting moms. Happy now, MAGA? It seems FEMA's best hurricane season advice might be: Pray harder But there's a catch. Thanks to the Trump administration cuts, according to the New York Times, 'FEMA has lost about a quarter of its full-time staff, including one-fifth of the coordinating officers who manage responses to large-scale disasters.' So the whole 'Just do what you did last year when hurricanes hit' idea sounds about as smart as telling people who live near the water to just lash themselves to the nearest street lamp and pray really hard. Which, if we're being honest, sounds about right for an administration that has a U.S. Health and Human Services secretary who guzzles raw milk, an education head who confuses AI with A1 steak sauce and a FEMA chief who wouldn't know a hurricane if it blew him off his wholly undeserved government perch. Follow USA TODAY columnist Rex Huppke on Bluesky at @ and on Facebook at
Yahoo
2 days ago
- Business
- Yahoo
Struggling Seafood Chains That Are Making Waves Again
Seafood can make for a luxurious meal, particularly if one isn't lucky enough to live near the ocean. It's a real treat to eat flaky cod or halibut, big meaty shrimp, or delectably tender clams, all lightly breaded and deep-fried and served alongside french fries, some great-tasting restaurant coleslaw, and maybe some hushpuppies. Chain establishments offering a beloved line of seafood staples have traditionally been big players in both the sit-down restaurant industry and its more populist and informal counterpart of the fast food scene. For better or for worse, consumer tastes change and cycle. Every so often, the restaurant companies that specialize in indulgent seafood seem to suffer mightily. Not only do they face the same problems as other restaurants, but they also need to grapple with the ever-changing prices of seafood. By and large, fish-focused restaurants aren't as prominent in North America as they once were, with all kinds of seafood chains closing down an alarming number of locations in recent years. But there's hope for the future. Many of those restaurants that were once seemingly close to drowning are coming back up for air. Here are some seafood chains that are still swimming and making big splashes. Read more: Pizza Chains That Might Not Be Around Much Longer At one point, it appeared as if Red Lobster was dead in the water. The laid-back but classy seafood chain had been a go-to for those seeking a straightforward business lunch, date night, or celebratory meal of crab, lobster, shrimp, chowder, and a basket of Cheddar Bay Biscuits since 1968. In 2024, it looked like it was only a matter of time before the venerable seafood chain sank. After suffering some significant financial losses — and, specifically, losing a lot of money on its Endless Shrimp promotion after making it permanent in 2023 — Red Lobster filed for bankruptcy to stay afloat. Within three months of doing so, as many as 99 Red Lobster restaurants had closed. Not only did Red Lobster recover, but it recovered in a remarkably swift fashion. Parties associated with Fortress Investment Group formed RL Investor Holdings LLC and injected over $60 million into the operation. By September 2024, and with the blessing of a court, Red Lobster emerged from bankruptcy. The downsized and salvaged Red Lobster then began a program of economic reinvention, simplifying the menu, changing some recipes, and planning a new look for its dining rooms. With a menu built around its distinctively diamond-shaped fish filets encased in a salty, crispy brown shell, hushpuppies, clam strips, and surprisingly delicious crumblies, Long John Silver's became one of the first names in fast food fish and seafood not long after its 1969 founding in Kentucky. By the end of the 1980s, Long John Silver's was one of the most commonly found fast food restaurants in the United States, with approximately 1,500 locations. But just a few years later, the company was in trouble. In 1998, after shutting down 25 outlets, Long John Silver's Inc. filed for Chapter 11 bankruptcy protection. It cited $457 million in debt and assets of only $329 million. By the early 2020s, Long John Silver's decline had continued to a point where it only retained roughly 500 locations. But the world needs Long John Silver's, and the chain's executives agreed. Under the leadership of its president, Nate Fowler, Long John Silver's underwent a reboot. The company reevaluated its franchisee agreements, its economic structure, and onsite technology. It also changed up the menu slightly, making the fish thicker, improving its marinades, and rolling out value-priced options, a loyalty program, and a smartphone app. Just two years after the Bubba Gump Shrimp Co. made its fictional debut as a lucrative seafood supplier in the 1994 blockbuster "Forrest Gump," a real-life restaurant with the same name opened in Monterey, California. Similar to how Benjamin Buford "Bubba" Blue recites all the different, tasty ways to prepare shrimp, the Bubba Gump Shrimp Co. restaurants — which have popped up in dozens of locations in heavily foot-trafficked areas, primarily near tourist hotspots — sells shellfish in addition to other tried-and-true seafood favorites. Landry's, which also owns chains such as Del Frisco's Double Eagle Steakhouse, Rainforest Cafe, Morton's The Steakhouse, and Claim Jumper, bought the Bubba Gump Shrimp Co. in 2010. At that point, it was a chain of 32 locations. This number has since dwindled, with restaurants shutting down in Charleston, Maui, and Baltimore, the latter of which closed by order of the city's health department over issues with its food permit. After a few years of downturn, however, Landry's is looking to grow the Bubba Gump Shrimp Co. once more. In 2025, plans were put into motion to open a new restaurant in the well-traveled resort area of South Padre Island in Texas. The enduring image of the prim and proper English butler is thanks in part to Arthur Treacher, a British actor who played several variations of the role before serving as the sidekick in the "The Merv Griffin Show." In 1969, he licensed his name to an upstart fast food chain selling the quintessential English meal, with the first Arthur Treacher's Fish & Chips opening its doors in Ohio. The restaurant's menu was novel and pleasing enough to encourage massive and rapid growth, exploding into a national chain of 826 restaurants in about a decade. Three years after the frozen fish company Mrs. Paul's Kitchen acquired Arthur Treacher's, it sold it off to Lumara Foods of America in 1982, and the chain filed for bankruptcy two years later. What was once a major fast food company shrank to only 27 outlets by 2010, and, by 2021, the only real Arthur Treacher's Fish & Chips remaining was the one in Cuyahoga Falls, Ohio. As it sat on the brink of oblivion, Arthur Treacher's Fish & Chips waged an astonishing comeback. After hot dog company Nathan's Famous bought the fish joint in 2021, it made plans to restore Arthur Treacher's as a low-cost ghost kitchen concept. Meanwhile, the freestanding, full-service version of Arthur Treacher's is now three times its former size. The third store opened in Cleveland Heights, Ohio, in April 2025. Once a family-owned seafood market in the Boston area that also sold fish and chips baskets, Legal Sea Foods has grown a lot since 1950. Eventually becoming a full-service, slightly upscale restaurant chain offering clams, oysters, lobster, and fried fish, as well as a seafood shipping operation, Legal Sea Foods grew to a modest but robust network of 35 restaurants by the late 2010s, raking in more than $240 million in annual sales. Then the COVID-19 pandemic happened, forcing the majority of public spaces, restaurants included, into temporary shutdowns to stop the spread of the coronavirus. Casual eateries suffered massively in 2020, and by August of that year, multiple Legal Sea Foods outlets wound up closing down forever, reducing the chain to 31 entries. The post-pandemic economic climate wasn't much kinder to Legal Sea Foods. By early 2025, this number had decreased even further. But while some of its restaurants have shut down, Legal Sea Foods has also opened new locations. In July 2024, it debuted a large new spot on the Chicago Riverwalk as its flagship eatery. It is also rethinking other aspects of its operations under its owner, PPX Hospitality Brands, which took over in 2020. The parent company relocated the Legal Sea Foods corporate office after concluding that its current headquarters were outdated, as well as constructing a new innovation center in Milford, Massachusetts. After starting out as Mr. D's Seafood and Hamburgers in Donelson, Tennessee, in 1969, Captain D's Seafood became one of the biggest names in fast food fish, particularly in the South. By the mid-2000s, more than 600 Captain D's were in operation -- a number that quickly and severely declined in 2008. The chain's biggest franchisee at the time, Serve Holdings LLC, filed for bankruptcy. After struggling to pull in enough customers, the franchisee found itself in debt to Captain D's to the tune of six figures. Over the next decade and a half, more Captain D's restaurants continued to close. The operation consisted of just over 500 locations by 2024. These closures included its restaurant in Myrtle Beach, South Carolina, plus a number of spots in Texas. Nevertheless, in 2025, Captain D's announced an assertive plan to expand, and into uncharted territory, too. Over the next two years, it will expand into Maryland with two new restaurants. It will also grow its footprint in Texas, with three new locations on the way, including one near San Antonio's Lackland Air Force Base. Captain D's corporate office is also on the lookout for franchisees who want to place restaurants in Canada, Central and Latin America, the Caribbean, Spain, and several countries in Asia. For more food and drink goodness, join The Takeout's newsletter. Get taste tests, food & drink news, deals from your favorite chains, recipes, cooking tips, and more! Read the original article on The Takeout. 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Yahoo
4 days ago
- Business
- Yahoo
Beloved Pizza Hut Closes Restaurants in New Jersey
A beloved pizza brand has closed several of its New Jersey locations. According to 94.3 The Point, many large food chains are trying to stay alive by offering take-out options, and Pizza Hut is the latest to see some closures in New Jersey restaurants, per the outlet. One nostalgic journalist returned to her roots in Toms River, only to find that her old stomping grounds—the local Pizza Hut—had closed. "Contractors on the ground confirmed that Pizza Hut on Route 37 is indeed no more. All that's left are the memories of birthday parties, greasy fingers, and the salad bar." In January 2025, Nation's Restaurant News reported that the franchise would sell all 127 Illinois, Indiana, Georgia, South Carolina, and Wisconsin stores after filing for bankruptcy in July 2024. "EYM's bankruptcy filing listed two creditors: Manufacturers Bank, which it owes more than $21 million, and Pizza Hut itself, which is owed just under $2.25 million," the outlet continued. The news came on the heels of KFC selling some locations in Illinois, Indiana, and Wisconsin. In August 2024, Taste of Country reported that 25 KFC locations closed "rather abruptly, with no notice." Both KFC and Pizza Hut are owned by the franchise EYM Chicken. In an email obtained by Taste of Country, they wrote that they "appreciate the patronage of our loyal guests." Red Lobster and Jack in the Box are other chains that have closed in recent weeks. The former shut down 187 restaurants after filing for bankruptcy in May 2024, per The Street. Beloved Pizza Hut Closes Restaurants in New Jersey first appeared on Men's Journal on May 24, 2025
Miami Herald
5 days ago
- Business
- Miami Herald
Major city loses popular Mexican restaurant but gains another
Running a restaurant isn't for the faint of heart. You can put your blood, sweat, tears, and family recipes into your business, only to find yourself struggling to make ends meet - even if every booth in the place is filled night after night. Don't miss the move: Subscribe to TheStreet's free daily newsletter Restaurants tend to operate on tight margins. And in recent years, they've been squeezed more than usual due to persistent inflation. Related: Beloved Mexican restaurant closing iconic location after 63 years The typical full-service restaurant, if it's lucky, has a 5% profit margin due to higher labor and ingredient costs. Consumers can complain about paying high prices for restaurant food and drinks. But restaurants need to charge what they do to cover the cost of staying in business. Remember, restaurants have a lot of overhead that's not just reflected in the staff members they employ and the items listed on their menus. The costs of operating a restaurant run the gamut from keeping the lights on to stocking the toilet paper and soap in the bathrooms. When those costs keep rising, something has to give. The past few years have seen their share of high-profile restaurant closures. Red Lobster abruptly closed dozens of restaurants last year in conjunction with filing for bankruptcy. Even though fans of the chain loved its menu and famous endless shrimp promotion, the company couldn't hang on. Related: Iconic restaurant closing its doors after 32 years TGI Fridays, another popular chain, filed for bankruptcy in 2024 as well. Despite fans' familiarity with the chain's classic menu, a prolonged decline in sales led to a world of financial woes. But it's not just chain restaurants that have been forced to say goodbye. In recent years, a number of popular local restaurants have closed their doors as well. One Market Restaurant, an iconic San Francisco eatery that was the recipient of many prestigious culinary awards, announced recently that it's shutting down in mid-June. And in San Antonio, Oscar's Taco House, a beloved old school-style restaurant known for its delicious Mexican fare, is closing its doors in June as well. When a local favorite restaurant shutters, one thing that can help soften the blow is the promise of a fantastic new restaurant to replace it. In Denver, El Noa Noa Mexican Restaurant recently closed its doors after a successful 45-year run. Owner Vidal Banuelos said the restaurant never managed to fully recover from the blow of the pandemic. Related: Formerly bankrupt Tex-Mex chain unveils deals diners will love Even once Denver lifted dining restrictions, El Noa Noa lost its lunchtime crowd as companies allowed employees to continue working from home on a long-term basis. "The cost of everything went extremely high and our profit margins were basically disappeared," Banuelos told the Denver Post. Ultimately, he just couldn't hang on. At the time of El Noa Noa's closing in April, Lorenzo Nuñez Jr. of El Chingon fame found himself in an interesting spot. His popular restaurant had shuttered more than a year prior, and he was hoping to reopen in a new, reimagined space. With El Noa Noa clearing out, Nuñez jumped on the opportunity to scoop up its Santa Fe Drive location. Now, fans who are bemoaning the loss of El Noa Noa will have an opportunity to enjoy delectable Mexican classics such as chile relleños, enchiladas, and carne asada at the new El Chingon. But Nuñez said he plans to introduce exciting seasonal menu items, too. The new El Chingon will also offer a menu of fun cocktails, and the iconic patio will be open during the summer months. More Fast Food & Restaurant News: Starbucks makes shocking pricing move customers will loveBankrupt restaurant chain offers new deal, stiff drinkNew Taco Bell menu items combines multiple classics "Having the opportunity to take this over from the family is a challenge to follow in their footsteps, but also an opportunity to carry on a legacy, if you will," Nuñez said. Banuelos is excited to see a new Mexican restaurant take over the space he's leaving behind. And he hopes Nuñez's venture is a huge success. Related: After closing 600 locations, fast-food chain has many more planned The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
