In a recent episode of “Last Week Tonight,” John Oliver took aim at Red Lobster, which had filed for Chapter 11 bankruptcy. The comedian joked that private equity firms were to blame for the chain’s financial struggles.
To make his point, Oliver’s team purchased the contents of a closed Red Lobster location and recreated the restaurant in the show’s studio. The comedian then offered customers only one item on the faux-Red Lobster menu: biscuits.
Red Lobster has faced numerous challenges over the years, including high leasing costs, decreased foot traffic during COVID-19 lockdowns, and turnover among top executives. Despite these difficulties, Red Lobster had previously reported an $11 million loss in the third quarter of 2023 due to the Endless Shrimp promotion.
Representatives for both TAGex Brands and Red Lobster declined to comment on Oliver’s segment.
