Cheddar Bay Biscuit Bailout
NEW YORK, New York (CB) - Thai Union group, the majority owner of Red Lobster, announced on Tuesday they would be closing 48 Red Lobster locations and have begun the process of auctioning off kitchen and restaurant equipment, confirming what many have known for some time - the seafood sit-down chain is in serious financial trouble.
The casual dining pioneer has been a victim to a number of factors in its decline. Between the pandemic, the death of the casual sit-down restaurant, and the rise of fast casual there have been many indications of trouble brewing.
But nothing is funnier than their latest and largest misstep, Endless Shrimp. A once coveted limited time menu item was made permanent, offering $20 endless shrimp all the time, caused the company to lose 11 million dollars in just months. "We need to be much more careful," an anonymous Thai Union executive shared. Thai Union is planning to divest from Red Lobster, taking a 530 million dollar loss.
The world is a funny place and not always in the HAHA sense. The news that Red Lobster could potentially be going out of business due to Endless Shrimp is the perfect intersection of that Venn diagram straddling very funny and highly ironic. While some could argue they will simply have to suffer the fate of the Thai Union being bad at business and making a poor decision, I maintain we must save this institution.
I would watch a documentary about the death of Red Lobster with hopes they would include footage from the board meeting where someone followed up a, "there are no bad ideas" with an "Endless endless Shrimp?"
With Thai Union divesting, I sense a spectacular election year opportunity for Biden, who has already stalled the banning of menthol cigarettes, and moved to reclassify marijuana to pander to the populace. Joe's latest opportunity to secure votes this fall would be to simply make Red Lobster a government-owned eatery. We, the American people, could prop up this seafood sit-down and in turn receive a stimulus of Cheddar Bay Biscuits and reduced prices for dining at Red Lobster. This monumental bailout would cross the aisle and unify a divisive country. Left and Right, White and Black, Boomers and Gen Z coming together to share a shrimp scampi lady and the tramp style. The words of Louis Armstrong echo in my mind with the thought, “...What a wonderful world..”