This week on Nation's Restaurant News the top story was Red Lobster to be purchased by an affiliate of SPB owner Fortress Investment Group. Red Lobster will almost certainly be bought out of bankruptcy by its creditors, led by Fortress Credit Corp., according to a document filed with a bankruptcy court on Monday. That was the casual-dining chain’s intention when it filed for Chapter 11 bankruptcy protection in May, after years of troubled sales and a reportedly botched all-you-can-eat shrimp promotion that cost it millions of dollars.
In other news, during Chipotle’s second quarter earnings call Wednesday after market, CEO Brian Niccol acknowledged the proverbial elephant in the room: shrinkflation accusations. Chances are if you’re a regular TikTok scroller, you’ve seen some of those accusations, most of them lobbed by customers recording the chain’s frontline workers with their phones to ensure there is no portion downsizing.
Chipotle has responded to these claims with its own TikTok content, while Niccol has also denied in several interviews that the company is issuing smaller portions. But during the company’s earnings call, he noted that the company now has a plan in place to further address such allegations.
Also, Taco Bell’s signature Baja Blast was launched in partnership with Mtn Dew 20 years ago and the company is celebrating the milestone with a Bajaversary promotion.
The campaign kicks off July 29 with a free, medium-sized Mtn Dew Baja Blast fountain drink or regular-sized Baja Blast Freeze, available for one day only. On Aug. 13 at 5 p.m., the chain will drop a Stanley x Bajaversary tumbler via its app for rewards members.
See what else was trending on NRN.com this week.
