Joe Biden has created a new normal for Americans and it’s far worse than anyone expected.
Millions of Americans are now being forced to make drastic financial decisions like whether they’ll pay their mortgage or make a desperately-needed trip to the grocery store.
And now Joe Biden and a failure to do basic math have this nationwide restaurant chain on the verge of total collapse.
The domino-effect of Bidenomics
Recently, The Wall Street Journal reported that so-called “Bidenomics” are squeezing the belts of typical patrons of mid-level restaurant chains.
Their belts are now so tight, they can no longer reach into their wallets to pay for a nice meal out.
According to The Journal, chain restaurants have experienced a massive drop off from former regulars who earn less than $50,000 per year.
Those customers aren’t the only ones who are struggling to pay for the sky-high cost of living under President Joe Biden’s regime.
Restaurants are feeling that same sting as food costs continue to soar.
And restaurateurs are actually getting hit both coming and going.
They’re losing customers who can no longer afford to eat out, they’re paying more for food, and the value of the dollars they are making continues to plummet.
In an effort to combat record-high Bidenflation, the unelected ruling class elites within the Federal Reserve have been jacking up interest rates.
It’s yet another huge increase in the cost of doing business for eateries.
And, perhaps, no chain has been hit harder than Red Lobster.
No more Cheddar Bay Biscuits?
The Daily Wire is reporting that Red Lobster is now expected to soon be filing for bankruptcy.
Thai Union Group is the majority owner of Red Lobster and with WSJ reporting that sales dipped 8% from 2022 to 2023, the company is no longer interested in flushing the restaurant with cash.
“We’re going to exit,” said Thai Union Chief Executive Thiraphong Chansiri. “We are not going to inject any more money into Red Lobster.”
In addition to the effects of the Biden economy, Red Lobster launched a promotion that proved to be disastrous.
In an effort to provide value to customers with tight purse strings, America’s largest seafood chain offered patrons an “all-you-can-eat shrimp” deal.
Unfortunately for Red Lobster, they apparently aren’t very proficient in basic math, and ended up losing millions of dollars due to executives incompetence.
If you don’t serve ice cream, Joe Biden isn’t looking out for you
There are currently 650 Red Lobster locations throughout the United States, but doors have already been permanently closed at dozens of locations.
And if the bankruptcy goes through, Red Lobster could soon be going the way of Howard Johnson’s.
But Red Lobster isn’t the only restaurant chain in jeopardy of going out of business thanks to the Biden economy.
The WSJ report indicated that Tijuana Flats and Sticky’s Finger Joint have both filed for bankruptcy in the past month.
Meanwhile, Dom’s Kitchen & Market and Foxtrot Market both closed last month.
US Political Daily will keep you updated on any developments to this ongoing story.
