Red Lobster, a long-standing seafood establishment that has been serving customers since 1968, has closed its doors. The restaurant has been facing financial challenges, particularly due to their endless shrimp deal, which ended up causing significant losses. In fact, red lobster reported a loss of $17 million in 2023, and it’s projected to reach around 20 million.
But fear not, because a new restaurant called First Watch will be stepping in to fill the void. First watch, a popular brunch spot, is set to open in late fall of 2024, taking over the location previously occupied by Red Lobster. This restaurant has been experiencing consistent growth and has become one of the most successful chains in recent years.
First Watch reported an impressive revenue of $219.2 million and a net income of $5.4 million. With over 500 locations in 29 states, this brunch concept has been making waves across the country. It’s worth noting that First Watch is majority owned by Advent International.
One of the great things about First Watch is that their pricing is comparable to what red lobster offered, so you can still enjoy a delicious meal without breaking the bank.
So, get ready to bid farewell to Red Lobster and embrace the arrival watch. This new brunch spot will be a fresh and exiting dining experience for Bel Air.