Not The Onion

11929 readers

2 users here now

Welcome

We're not The Onion! Not affiliated with them in any way! Not operated by them in any way! All the news here is real!

The Rules

Posts must be:

Links to news stories from...
...credible sources, with...
...their original headlines, that...
...would make people who see the headline think, “That has got to be a story from The Onion, America’s Finest News Source.”

Comments must abide by the server rules for Lemmy.world and generally abstain from trollish, bigoted, or otherwise disruptive behavior that makes this community less fun for everyone.

And that’s basically it!

founded 1 year ago

MODERATORS

[email protected]

407

Red Lobster eyes bankruptcy option after $11M in losses from endless shrimp (abcnews.go.com)

submitted 6 months ago by [email protected] to c/[email protected]

89 comments fedilink hide all child comments

"Last year, Red Lobster reported $11 million in operating losses following its flubbed 'Ultimate Endless Shrimp' deal, which backfired when it reeled in too many customers after the limited-time promo became a permanent menu fixture last June. The restaurant chain later reported $12.5 million in losses in the fourth quarter of 2023."

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 38 points 6 months ago (1 children)

Or.. raised the price. You know.. capitalism. They seemed to have failed econ 101. Or the bankruptcy is a good way to get out from under debt and start over. It's the American way.

[–] [email protected] 6 points 6 months ago

The endless shrimp reason is just BS.

They're old restaurants and people just don't go there to be "fancy" anymore. Younger people just don't eat a lot of crab, shrimp, and lobster nowadays, and due to ocean issues crab prices and seafood prices have increased even more than beef and other food costs, so they're having to charge more more things fewer people want to go there for. They keep hauling in more and more, but prices have tripled over the past 10 years or so for lobster. Same over the last several years with crab. Especially with the mass die off of snowcrab a year or so ago.