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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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[–] 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