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.”

  • stoly@lemmy.worldEnglish
    21·
    7 months ago

    It’s like Panera or Olive Garden. Just boring flavorless food that is only attractive to people who don’t know better.