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How a global seafood giant broke Red Lobster
  + stars: | 2024-05-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +15 min
Former Red Lobster employees say that while the pandemic, inflation and rent costs impacted Red Lobster, Thai Union’s ineptitude was the pivotal factor in Red Lobster’s decline. Kenny criticized Red Lobster employees at meetings and made derogatory comments about them, according to former Red Lobster leaders who worked closely with Kenny. Red Lobster’s annual customer count has dropped by 30% since 2019, Red Lobster said in its bankruptcy filing. Red Lobster employees say they were pressured by Thai Union representatives to buy more seafood from Thai Union. Thai Union representatives also began sitting in on meetings between Red Lobster and seafood suppliers, said one of the former Red Lobster employees who witnessed these conversations.
Persons: , Ludovic Garnier, Jorge Silva, Red Lobster’s, , Les Foreman, Red, Thiraphong Chansiri, Angel, Feng shui, Chansiri, Amanda Mustard, Paul Kenny, Kenny, , Kenny’s, Bill Darden, General Mills, Darden, Kelli Valade, Valade, Trin, Tapanya, Kevin Lamarque, Barry Fulghum, Lobster, Leah Millis Organizations: New, New York CNN, Thai Union Group, Red, Lobster, Thai Union, CNN, Red Lobster, John West Foods, longtime, Reuters, Thai, West Coast, Lobster’s, Bloomberg, Getty, Minor, Thai Union —, Union, Darden, Gate, Golden, Capital, Facebook, Thai Union . Thai Union, ” Thai Union Locations: New York, Thai, Thailand, Thai Union, United States, Orlando, Australian, Dallas, America, United, Texas, Spring , Maryland
As a couple, they have $285,100 in debt and currently spend around 154% of their monthly income, they told self-made millionaire Ramit Sethi on his "I Will Teach You To Be Rich" podcast last month. But the couple also has around $12,500 in credit card debt, Lucas tells Sethi. Lucas says when the couple bought their third car earlier this year, he figured they could afford the monthly payment. "Never make major purchase decisions based on monthly payment," Sethi says. A low monthly payment can lure you into a number of different financial decisions that work out fine in the short-term, but can cause trouble down the line.
Persons: Trin, Lucas, Ramit Sethi, Rich, Sethi, he's
Total: 2