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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]

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"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."

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[–] [email protected] 18 points 6 months ago (1 children)

I've only gone to red lobster for the endless shrimp (though there are much better all-you-can-eat options out there). They should try making their regular offerings better. It also doesn't help that private equity is in the middle of raiding the company and that's probably the main reason they're currently eyeing bankruptcy.

[–] [email protected] 8 points 6 months ago

Same with olive garden they want the decades old prime real estate. They could give a fuck about the restaurant