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.”

  • @[email protected]English
    16•7 months ago

    And you know they ain’t buying it at the Piggly Wiggly, but at a deep discount they negotiated ages ago with their distributor(s).