Darden Restaurants Set to Sell Red Lobster Chain for $2.1 Billion

Okay this could be a good thing or this could be a bad thing for Red Lobster. But the parent company Darden Restaurants Inc is set to sell the Red Lobster Chain to something called Golden Gate Capital. Red Lobster has been losing money for months now and like most causal dining restaurants; fast casual restaurants like Chipotle are taking over. Darden also owns Olive Garden and they too are in trouble and so I think Darden feels like they can only handle one failing chain at a time. I just saw a new TV ad for Olive Garden and they have lowered the prices of their pastas to just $10.00 including their amazing Lasagna. Now even at those prices, I can afford to go there. hahahaha And they are still offering unlimited soup and salad and bread sticks. I LOVE their bread sticks. I can just fill up on those. hahahaha The deal is not finalized yet so keep looking out for that. Hopefully Golden Gate Capital will have better luck with Red Lobster. Currently there are 706 Red Lobster locations and I pray that all will stay open after the sale. Its already so tough out there, those people need their jobs. So, I'll just cross my fingers for them. hahaha