Red Lobster a Barometer of Tough Economic Times for Restaurants

Darden told investors it might either sell or spin off into a separate company its Red Lobster division and stop expansion of Olive Garden ... Kim Lopdrup, currently president of Darden, will become chief executive of the seafood dining brand once it’s on its own [...]

To clarify, reports that @RedLobster is closing are false. We’re looking forward to your next visit! For more info: http://t.co/94nUJE9f5m

— Darden Restaurants (@Darden_News) December 27, 2013

FALSE ALARM: Rich Jeffers, a spokesman for Darden Restaurants Inc., which owns the chain, said the rumor may have started after the website LA Weekly published a story earlier this week that the company faced an "uncertain future." [...]

It's because we can't afford to eat out anymore ... wages increase less than Consumer Price Index [...]