https://people.com/red-lobster-is-considering-bankruptcy-partly-due-to-11-million-loss-from-endless-shrimp-deal-report-8635031

  • Dbumba [none/use name]
    ·
    7 months ago

    It makes for a funny headline, but that's like 0.4% of the chain's total revenue of around 2.6 billion in 2023

    More likely the private equity firm that bought Red Lobster is running it into the ground on purpose to do some credit bidding buy back bankruptcy scam that's somehow technically legal to write off a bunch of debt.

    • TankieTanuki [he/him]
      ·
      7 months ago

      I think it's an ad.

      I'm Crazy Eddie and my furniture prices are so low I must be insane!

      Red Lobster's all you can eat shrimp is such a great deal they're considering bankruptcy!

      Or maybe I'm too paranoid. shrug-outta-hecks

      • SSJ2Marx
        ·
        7 months ago

        On the one hand I wouldn't be surprised if there was some "Hollywood marketing" going on here to evade taxes, on the other I can't remember the last time I or anyone I know ate at a Red Lobster so I wouldn't be surprised if it's going bankrupt.

      • chicory [he/him]
        ·
        7 months ago

        I remember hearing this same thing last year. I agree it's an ad