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Red Lobster files for bankruptcy: Blame focuses on shrimp deal

Posted on AllSides May 20th, 2024
From The Right
Eric Thayer / Bloomberg / File / Getty Images

The financial woes hitting seafood restaurant chain Red Lobster have prompted it to close dozens of locations and file for Chapter 11 bankruptcy protection, with some of the blame being heaped on the chain's endless shrimp bargain.

In the wake of the pandemic, Red Lobster looked to boost traffic to its restaurants by offering a $20 all-you-can-eat shrimp deal that the company hoped would serve as a loss leader and bring in more customers who would become regulars.

However, the deal itself proved too good for customers to pass up. The Los Angeles...

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https://www.foxbusiness.com/markets/red-lobster-files-bankruptcy-blame-focuses-shrimp-deal

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