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According to Red Lobster’s filing, “Endless Shrimp” was historically a limited-time promotion. However, former CEO Paul Kenny decided to add it as a permanent menu item in May 2023 despite ...
The change cost Red Lobster $11 million. Red Lobster filed for bankruptcy Sunday, and the bankruptcy filing sheds new light on Thai Union’s role in the endless shrimp mishap. Red Lobster said it ...
Red Lobster is in trouble. Its solution: all-you-can-eat lobster, just months after an endless shrimp promotion led to deep losses that the company is still trying to dig out of. In celebration of ...
Red Lobster lost $11 million following the deal, its bankruptcy filing states. Endless shrimp was an embarrassment for Red Lobster, spoofed on Comedy Central’s “The Daily Show” and social media.
The troubled Red Lobster restaurant chain is closing down at least 48 of its roughly 650 branches across the US, according to a restaurant liquidation company. Neal Sherman, the chief executive of ...
According to the bankruptcy filing, the restaurants' guest count is still about 30% below its pre-pandemic level. Over the last year, its operating earnings have fallen by 60%. The chain lost $76 ...
Red Lobster gambled that offering customers all the shrimp they could eat would give the struggling chain a desperately needed boost. Instead, it now blames the deal for its deepening financial woes.
In 2003, Red Lobster ran an “Endless Crab ... Thai Union was a top supplier of shrimp to Red Lobster for more than 20 years. In 2016, Thai Union took a $575 million minority stake in the brand ...