It didn’t all change in March 2020. Not really. The UK high street has been in the throes of a gradual revolution for decades. From the rise of ecommerce, to the birth of mobile, social commerce, and a growing emphasis on experience, change has been underway for a while. In fact for many, the pandemic has acted as a wake-up call. Digital transformation was no longer a ‘nice to have’ but a matter of survival. Necessity sparked innovation and customers are enjoying more flexibility and conveni ...
…
continue reading
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Ultimate Endless Real Estate Costs at Red Lobster
Manage episode 425901027 series 3317274
Content provided by Kelly Barner and Art of Procurement. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Kelly Barner and Art of Procurement or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Red Lobster, the largest seafood chain in the United States, declared bankruptcy on May 19, 2024. As of the filing, they had 551 locations operating in 44 states, but underperforming locations have already started to close.
What brought about the bankruptcy of the restaurant chain that rapper Flavor Flav describes as “one of America's greatest dining dynasties”? It wasn’t all-you-can-eat shrimp, as some have suggested, but it may very well have been endless real estate costs.
In this week’s episode of Art of Supply, Kelly Barner walks a mile in Red Lobster’s shoes:
- Tracing their rise as an innovative dining concept, the first restaurant to advertise on national television
- Evaluating the impact that a ‘sale leaseback’ of their real estate had on the chain’s long term profitability
- Questioning the rationale of being owned by their largest seafood supplier, and all of the complications that accompanied this circular relationship
Links:
123 episodes
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Manage episode 425901027 series 3317274
Content provided by Kelly Barner and Art of Procurement. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Kelly Barner and Art of Procurement or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Red Lobster, the largest seafood chain in the United States, declared bankruptcy on May 19, 2024. As of the filing, they had 551 locations operating in 44 states, but underperforming locations have already started to close.
What brought about the bankruptcy of the restaurant chain that rapper Flavor Flav describes as “one of America's greatest dining dynasties”? It wasn’t all-you-can-eat shrimp, as some have suggested, but it may very well have been endless real estate costs.
In this week’s episode of Art of Supply, Kelly Barner walks a mile in Red Lobster’s shoes:
- Tracing their rise as an innovative dining concept, the first restaurant to advertise on national television
- Evaluating the impact that a ‘sale leaseback’ of their real estate had on the chain’s long term profitability
- Questioning the rationale of being owned by their largest seafood supplier, and all of the complications that accompanied this circular relationship
Links:
123 episodes
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Similar to Art of Supply
It didn’t all change in March 2020. Not really. The UK high street has been in the throes of a gradual revolution for decades. From the rise of ecommerce, to the birth of mobile, social commerce, and a growing emphasis on experience, change has been underway for a while. In fact for many, the pandemic has acted as a wake-up call. Digital transformation was no longer a ‘nice to have’ but a matter of survival. Necessity sparked innovation and customers are enjoying more flexibility and conveni ...
…
continue reading
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…
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continue reading
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…
continue reading
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continue reading
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