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

submitted 7 months ago by OldManBOMBIN to c/nottheonion

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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] 87 points 7 months ago (30 children)

Filing bankruptcy over 11 million? Really? Doesn't seem like a lot for a big restaurant chain.

[–] wreckedcarzz 88 points 7 months ago (27 children)

Well considering that I'm a "millennial" and literally not a single person I know has ever visited, requested, or mentioned Red Lobster as a restaurant choice... they might have deeper trouble than some shitty shrimp. Can't run a business forever when your largest potential market is 65+...

[–] turmacar 26 points 7 months ago (3 children)

The biscuits are the best part and they sell the mix, so not a lot of reason to visit if there's any other options for seafood.