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Is Orlando-based restaurant chain going out of business?

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April 19, 2024

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Is Orlando-based restaurant chain going out of business?

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In November 2023, Pink Lobster made headlines after considered one of its executives revealed in a quarterly finance report that the group suffered an $11.3 million loss – and that the chain’s common “Final Infinite Shrimp” promotion was partly guilty.

FOX 35 reached out to Pink Lobster on Wednesday for remark, however didn’t obtain a direct response. If we do, we’ll replace our story.

Earlier than it was a nationwide chain, Pink Lobster began as a single restaurant in Florida.

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Over the following 60 years, the restaurant chain expanded, gained buyers, modified homeowners, and at its peak, opened greater than 700 eating places throughout america.

What number of eating places does Pink Lobster have in Florida?

Here’s a listing of Pink Lobster’s restaurant places:

Who owns Pink Lobster?

In 1995, Common Mills established a brand new firm for its restaurant manufacturers, Darden Restaurans, Inc.

In 2020, Thai Union Group, which had a small stake in Pink Lobster already, purchased the restaurant model from Golden Gate Capital.

“The mix of Covid-19 pandemic, sustained business headwinds, greater rates of interest and rising materials and labor prices have impacted Pink Lobster, leading to extended destructive monetary contributions to Thai Union and its shareholders,” mentioned Thiraphong Chansiri, Thai Union Group’s CEO, in a information launch.

In March 2024, Pink Lobster reportedly named Jonathan Tibus as its subsequent CEO after Horace Dawson retired, in response to the Orlando Enterprise Journal. Dawson was named CEO in September 2023.

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