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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@lemmy.world to c/nottheonion@lemmy.world

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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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[–] cyborganism@lemmy.ca 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@lemmy.world 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+...

[–] cyborganism@lemmy.ca 5 points 7 months ago (4 children)

For me it's just not really an option because there are no locations in Québec. The closest one is in Ottawa, two hours away.

It's one of our favorite places to go eat when we go to Ottawa. It's honestly not as bad as people say it is. The food is always great at that location.

[–] wolfkin@mastodon.social 8 points 7 months ago (1 children)

@cyborganism @wreckedcarzz If you take internet reviews there are only three types of restaurants.

Excellent places that deserve their Michelin Stars
Excellent places that should have Michelin Stars
Diarrhea fuel garbage pits. With food so disgusting you shouldn't even feed it to the stray dog that bit your baby.

On our national deal hunting website you can see all the "It gives you diarrhea comments" every time there's a coupon for McDonalds or franchised Shawarma

[–] Serinus@lemmy.world 4 points 7 months ago (1 children)

Chain restaurants also have a ton of variance. Most Olive garden is shit these dates, but A. They were great in the mid 90s before they enshittified, and B. I'm sure there's still a great Olive Garden out there somewhere.

[–] Num10ck@lemmy.world 3 points 7 months ago (1 children)

olive garden is the same company as red lobster and chili's

[–] YerbaYerba@lemm.ee 6 points 7 months ago

Red lobster was sold off from the olive garden parent company 10 years ago

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