Red Lobster has a new CEO and is focused on possible restructuring through Chapter 11 bankruptcy, according to Bloomberg.

“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.”

  • hark@lemmy.worldEnglish
    18·
    7 months ago

    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.

    • Jimmycakes@lemmy.worldEnglish
      8·
      7 months ago

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