DIRS.INFO The most relevant business & tech news

☆ Red Lobster brought seafood to the masses. Now it’s on the verge of bankruptcy
▼ + stars: | 2024-05-03 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +11 min

While it was a delicious deal for customers, it was terrible for the company: Red Lobster lost $3.3 million in seven weeks. The deal was once again too popular, and Red Lobster was unprepared for its customers’ insatiable lust for discounted shellfish. Red Lobster is now reportedly considering filing for bankruptcy protection to restructure its debt and shed some of its 650 US locations. Red Lobster stallsBut Red Lobster fell behind its sister brand Olive Garden under Darden. In 2021 and 2022, Red Lobster brought on a new CEO, chief marketing officer, chief financial officer and chief information officer.

Persons: Lobster, “, ”, John Gordon, Michael Nagle, Alex Susskind, General Mills, Bill Darden, Charley Woodsby, Darden, ” Woodsby, Jonathan Maze, Betty Crocker, Red, Glen Martin, Mills, ” Joe Lee, Olive, Red Lobster’s, “ Darden, ” Les Foreman, Justin Sullivan, they’ve, Les Foreman, Thiraphong Chansiri, ” “, ” Chansiri Organizations: New, New York CNN, Lobster, Thai Union, Bloomberg, Getty, Red Lobster, CNN, Cornell University, Baby Boomers, General, Howard, Restaurant Business, Darden, Denver Post, Harvard Business School, Longhorn, Darden Restaurants, Gate, ‘, Thai, “, ” Thai Locations: New York, United States, Bangkok, Thai, underinvestment, Lakeland , Florida, Orlando, America, Olive, Sale, Thai Union, Thailand

☆ Red Lobster Isn't Nearing Bankruptcy Because of Endless Shrimp
▼ + stars: | 2024-05-01 | by ( Emily Stewart | ) www.businessinsider.com time to read: +9 min

While Red Lobster increased traffic somewhat, people coming in to chow down on all-you-can-eat shrimp was a money bleeder. But the story about what's gone wrong with Red Lobster is much more complicated than a bunch of stoners pigging out on shrimp (and, later, lobster) en masse. Red Lobster first opened in Lakeland, Florida, in 1968 and was acquired by the food conglomerate General Mills in 1970. "What's truly happened with Red Lobster is that the consumer base has changed and Red Lobster hasn't," he said. "Red Lobster isn't losing to a competitor in their space — they're losing to competitors outside their space."

Persons: It's, what's, Jonathan Maze, Mills, General Mills, Olive, Darden, Red, Eileen Appelbaum, isn't, they've, it's, Keith Bedford, Darren Tristano, John Gordon, Kim Lopdrup, Red Lobster's, He's, Jonathan Tibus, Gordon, Tristano, You've, Emily Stewart Organizations: Bloomberg, Restaurant Business, Olive Garden, LongHorn, Darden, Golden Gate, American Realty, Lobster, Center for Economic, Policy Research, Thai Union, Seafood Alliance, Thai, Fortress Investment Group, Reuters, Business Locations: chow, Lakeland , Florida, San Francisco, Thai, Thailand, Thai Union, Golden, San Diego

☆ Ghost kitchens were supposed to revolutionize restaurants. They’re crashing
▼ + stars: | 2023-12-05 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +5 min

But ghost kitchens are now crashing. Ghost kitchens are stripped-down commercial kitchens with no dine-in option. Sometimes called cloud kitchens, dark kitchens or virtual kitchens, ghost kitchens fulfill online orders from delivery apps like Grubhub and Uber Eats. Ghost kitchens also offered big chains a way to test new menu concepts, items and brands at lower rents and with less labor. So restaurants have shut down their ghost kitchens and funding for the concept has dried up.

Persons: Uber, Pat Greenhouse, ”, John Gordon, ” Wendy’s, Travis Kalanick, Applebee’s, “, Stephen Zagor, ” John Gordon, Tiffany Hagler, Wendy’s, Kalanick’s CloudKitchens, ” Gordon Organizations: New, New York CNN, Big, Kroger, Reef Technology, Boston Globe, Technology, Wings, Columbia Business School, National Restaurant Association, Geard, Bloomberg, Getty, Butler Locations: New York, South Boston, Dobbs Ferry , New York, U.S

☆ Scottish council buys 18th century bust for $6. Now it could sell for $3 million
▼ + stars: | 2023-10-30 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —An 18th century bust bought for £5 ($6) nearly 100 years ago by a Scottish town council could sell for more than £2.5 million ($3 million). The bust of landowner and lawmaker John Gordon was sculpted by noted French artist Edmé Bouchardon. Now, local politicians on Invergordon Town Council are weighing up whether to sell the item, described by Sotheby’s as “brilliant in execution,” according to a council report. Despite its illustrious creator, there are few details publicly available about where the bust has been since it was purchased by the council. I found the robes and there was this bust just propping the door open,” she said.

Persons: John Gordon, Edmé Bouchardon, Sotheby’s, Gordon, Invergordon, Bouchardon, Louis XV, Maxine Smith, “, ” Organizations: CNN, Invergordon, Concorde, Louvre Museum, Getty Center, Inverness Museum, Art Locations: Scottish, Edinburgh, Rome, Paris, Los Angeles, Scotland

DE PERE, Wis. (AP) — John Gordon, an artist who as a young art student helped design the Green Bay Packers' distinctive “G” team logo, has died at age 83. Gordon died Saturday, said Matt Cotter, the owner of Cotter Funeral & Cremation Care in De Pere, Wisconsin. Within 24 hours, Gordon’s sketched design was approved and the Packers’ original logo was born. The original “G” as designed by Gordon was shaped like a football, but it has been modified over the years to the current oval “G." Gordon was a lifelong artist who taught art at Parkview Middle School in Ashwaubenon before becoming an adjunct professor of art at his alma mater, St. Norbert College.

Persons: — John Gordon, Gordon, Matt Cotter, Cotter, “, ” Gordon, Gerald “ Dad ” Braisher, Vince Lombardi, “ Dad, Vince, Lombardi, Gordon’s, John, Packer, Cliff Christl, Norbert College, Dianne, Joan Gordon Organizations: PERE, Green Bay Packers, St, Norbert College, Packers, of Fame, Parkview Middle School, Norbert, Faith Lutheran Church Locations: Wis, De Pere , Wisconsin, Green Bay, Ashwaubenon, St

That month, it announced five new agreements with multi-unit operators to condense and transfer more than 230 existing restaurants. "There is strong interest in growth opportunities with Subway from multi-unit operators," Subway said in a statement to Reuters for this story. Klein, the franchise attorney, said that since 2022, his firm examined three multi-unit Subway deals on behalf of clients interested in investing in the chain for the first time. Of the 100 largest multi-unit U.S. restaurant franchisees by revenue in 2022, none had a Subway in their portfolio, according to a ranking by Franchise Times magazine. Instead, top franchisees owned hundreds of Wendy's (WEN.O), Yum Brands' (YUM.N) Pizza Hut and Taco Bell, Restaurant Brands' Burger King, Dine Brands' (DIN.N) Applebee's and other chains.

Persons: Justin Klein, John Gordon, Klein, it's, Gordon, Burger, Alicia Miller, Hilary Russ, Matthew Lewis Organizations: YORK, Subway, Reuters, QSR Magazine, Restaurant Brands International Inc, Times, Yum Brands, Bell, Restaurant Brands, Catalyst Insight, Thomson Locations: United States, U.S, Miami, Jersey, New York, Nevada, New Mexico

NEW YORK, May 1 (Reuters) - Subway, which is exploring a potential $10 billion sale, further shrank last year in the United States as franchisees closed 2.7% of the brand's sandwich shops, squeezing its royalties and fees. The chain shed another net 571 locations in 2022 after even steeper closings in previous years in the United States, its largest global market, according to the latest disclosure document it provides to franchisees who are interested in buying locations. Subway has closed thousands of U.S. locations in recent years due to over-expansion, outdated operations and decor, stale menus and $5 footlong deals that eroded franchisees' profits. Subway franchisees closed more than 1,000 net U.S. locations in 2021 and 1,609 in 2020. At the end of 2022, Subway had 20,576 shops in the United States.

☆ A new documentary on Subway and Jared Fogle couldn't come at a worse time
▼ + stars: | 2023-02-25 | by ( Nancy Luna | ) www.businessinsider.com time to read: +5 min

Jared Fogle became Subway's pitchman after losing 245 pounds by mostly eating the chain's subs. A Fogle documentary airing in March is bad timing for Subway as it looks for a buyer, analysts say. Yet, a ghost from Subway's past, Jared Fogle, is returning to haunt America's largest sub chain. The new documentary series promises to reveal the "rise and fall" of the former Subway pitchman who "masqueraded as a national hero while hiding a horrific side." Are you a Subway insider with insight to share?

☆ Why Pizza Hut’s red roofs and McDonald’s play places have disappeared
▼ + stars: | 2023-02-18 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

As fast-food chains spread across the US after World War II, new roadside restaurant brands needed to stand out. So restaurant chains turned to architecture as a key tool to promote their brand and help create their corporate identity. Luke Sharrett/Bloomberg/Getty ImagesBut the fast-food architecture of today has lost its quirky charm and distinctive features. Googie style fell out of fashion in the 1970s as fast-food style favored dark colors, brick and mansard roofs. But in the effort to modernize, some say fast-food design has became homogenized and lost its creative purpose.

☆ McDonald's Exec Slams California Lawmakers for Passing Fast-Food Law
▼ + stars: | 2023-01-26 | by ( Nancy Luna | ) www.businessinsider.com time to read: +5 min

The FAST Recovery Act could raise minimum wage for California fast food workers to $22 an hour. This week, a top McDonald's exec slammed lawmakers for passing the law in an open letter. AB 257 creates a 10-member council of fast food workers, franchisees, franchisors, advocates for fast food employees, and representatives from the governor's office. The organization said higher wage mandates could raise costs for California fast-food restaurants by $3 billion. "As California fast-food workers defend this landmark law and assert their voice, SEIU is absolutely committed to standing with them in their fight."

Search resuls for: "John Gordon"

10 mentions found