Classic Restaurant Chains Are Closing Their doors. Why?
Red Lobster is closing over 50 stores across America. Wait, no more all-you-can-eat shrimp and lobster? No more Cheddar Bay Biscuits? What the f is going on in the world??? This is mayhem, a disaster. The end of the world. . .For everyone else. But not us. Nope Nevada gets to keep the Cheddar Bay Biscuits for now.
Classic restaurant chains are closing their doors. Why? Is it because of the economy or because they suck?
America’s Restaurant Chains Are (Not) Always Open
Denny’s just announced major closing all over, Applebee’s has closed well over 300 restaurants since 2017 and plan on at least closing 25 more according to Eat This, a food-based publication. Outback Steakhouse anyone? Their parent company has closed a ton of restaurants, but plan on opening more. But, they won’t be Outback Steakhouses. And now, Red Lobster is shutting down many locations in the country.
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Poor Economics Creates Perfect Conditions For Restaurant Chains To Close
People want to blame the economy, as do the companies themselves. But for real? Look, I’m no economist, and I can barely keep my bank account straight. But according to Statista.com, companies made 3.4 TRILLION in the fourth quarter of 2023. And according to Fortune.com, that is record-high profits. As in the highest ever recorded. And to add insult to injury, it’s also a $105 BILLION increase from the quarter before. Look, I barely know how to spell corporate greed, but I certainly know what it feels like.
So, If they can’t capitalize on these record profits then it must be that they suck, right?
I mean aside from their little bead loaf they serve, the food at Outback Steakhouse blows more than a Blooming Onion blooms. Denny’s “Moon over My Hammys,” is a cute name. But to me, it’s not a tasty dish. And, well, Applebee’s is Applebee’s.
But Why Red Lobster? They don’t suck. Cheddar Biscuits are the business. So is the answer both? Corporate greed sucks, but so does Applebee’s? I mean both can be true, right?