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BlueWaveNeverEnd

(8,258 posts)
Wed Apr 17, 2024, 11:20 PM Apr 17

'Endless Shrimp' deal costs Red Lobster millions, brings it to the brink of bankruptcy


Report: Red Lobster Is Considering Bankruptcy
'Endless Shrimp' deal cost company millions



Cue the "hot water" jokes: Red Lobster is reportedly considering a bankruptcy filing after years of losses, including an $11 million third-quarter loss in 2023 that was blamed on an overenthusiastic response to the chain's expansion of its "Endless Shrimp" deal. Bloomberg, citing "people with knowledge of the matter," reports that the chain is exploring a possible Chapter 11 filing that would allow it to keep operating while it restructures its debt, renegotiates leases, and ditches long-term contracts.

https://www.newser.com/story/349184/report-red-lobster-is-considering-bankruptcy.html
36 replies = new reply since forum marked as read
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'Endless Shrimp' deal costs Red Lobster millions, brings it to the brink of bankruptcy (Original Post) BlueWaveNeverEnd Apr 17 OP
Dare Americans to eat? czarjak Apr 17 #1
Worst place for seafood n/t gay texan Apr 17 #2
Correct. It's even worse than the starboard sea chest Jerry2144 Apr 18 #28
They forgot about Bottomless Pete, the remorseless eating machine.... Blue Owl Apr 17 #3
. Hassin Bin Sober Apr 18 #14
That man ate all our shrimp and two plastic lobsters! Initech Apr 18 #21
The one by me used to make you wait 20 mins per reorder, give you ten and a pile of fries. Makes folks give up. TheBlackAdder Apr 17 #4
That was my experience- tiny servings and endlessly waiting for server to bring a few more wishstar Apr 18 #16
My friend and I used to hit up Sizzler for their steak and all you can eat shrimp ripcord Apr 17 #5
Ahhh.... Malibu Chicken, with Malibu sauce... aka mayo with mustard. WarGamer Apr 18 #25
The fact their food was awful might have more to do with it Johnny2X2X Apr 17 #6
other places seem to make deals like this work. dsp3000 Apr 18 #7
Reminds me of a sci fi short story called "All You Can Eat". LudwigPastorius Apr 18 #8
"Children Of Infinity" The Unmitigated Gall Apr 18 #27
Endless shrimp could be the end of shrimp as well. jalan48 Apr 18 #9
Lol at Red Lobster they are farm raised shrimp BannonsLiver Apr 18 #23
I did not know this. I'm sure the wild shrimp are elated as well. jalan48 Apr 18 #33
Why, did the ocean call? Clash City Rocker Apr 18 #29
"Hey George, the ocean called oasis Apr 19 #35
Offering discount "endless shrimp" to a nation of Homer Simpsons. Pretty damn stupid flvegan Apr 18 #10
Yep, when you take stock of Americans when out and about... brush Apr 18 #12
Guess that's one way to get people in the door. Not the best way though... brush Apr 18 #11
Curb Your Enthusiasm, All You Can Eat betsuni Apr 18 #13
Just as bad as Truth Social, which is collapsing after serving "endless weasel" Bucky Apr 18 #15
Bottomless glasses of whine!!! hatrack Apr 18 #18
Well I guess that's one way to say "private equity firm" in a way that blames consumers WhiskeyGrinder Apr 18 #17
Good Catch ProfessorGAC Apr 19 #36
They went Endless Shrimp. You never go Endless Shrimp JHB Apr 18 #19
Endless shrimp. Yeah, right. I run away from deals like this. The restaurants are jammed full, way too many SWBTATTReg Apr 18 #20
And here I was thinking it was NanaCat Apr 18 #22
Classic DU food snob thread BannonsLiver Apr 18 #24
My wife and I both have a palate for fine-dining. Aristus Apr 18 #30
Yes, very similar views here. BannonsLiver Apr 18 #34
I heard it was the crap legs because there was no limit on how many plates you can get. I think with the shrimp they debm55 Apr 18 #26
Never ever been to a Red Lobster. . . DinahMoeHum Apr 18 #31
They still encourage table-side... ret5hd Apr 18 #32

TheBlackAdder

(28,286 posts)
4. The one by me used to make you wait 20 mins per reorder, give you ten and a pile of fries. Makes folks give up.
Wed Apr 17, 2024, 11:40 PM
Apr 17

They were 10 small shrimp. Try waiting 20 minutes when you have kids. One reorder, two max.

Stopped taking the kids there 20 years ago. Never went back.

wishstar

(5,273 posts)
16. That was my experience- tiny servings and endlessly waiting for server to bring a few more
Thu Apr 18, 2024, 03:01 AM
Apr 18

We quit going years ago when the portions for all of their offerings became tiny (and they discontinued my favorite seafood marinara too). Funny that other restaurants that charge less for unlimited buffets including seafood have managed to thrive in our area.

 

ripcord

(5,553 posts)
5. My friend and I used to hit up Sizzler for their steak and all you can eat shrimp
Wed Apr 17, 2024, 11:51 PM
Apr 17

We would show up with a cribbage board, if it wasn't for our bar bill we probably would have been tossed multiple times.

dsp3000

(494 posts)
7. other places seem to make deals like this work.
Thu Apr 18, 2024, 12:11 AM
Apr 18

they come to your table less frequently, give out smaller portions, etc.

LudwigPastorius

(9,319 posts)
8. Reminds me of a sci fi short story called "All You Can Eat".
Thu Apr 18, 2024, 12:26 AM
Apr 18

It involves an alien in (human form) at one of those buffets.

No spoiler, but let's just say, he can really put it away.

The Unmitigated Gall

(3,846 posts)
27. "Children Of Infinity"
Thu Apr 18, 2024, 02:32 PM
Apr 18

Great book of stories!
First time I saw The Matrix, I thought of “Wake Up To Thunder”.

flvegan

(64,428 posts)
10. Offering discount "endless shrimp" to a nation of Homer Simpsons. Pretty damn stupid
Thu Apr 18, 2024, 12:48 AM
Apr 18

even at their "quality" of food.

brush

(54,021 posts)
11. Guess that's one way to get people in the door. Not the best way though...
Thu Apr 18, 2024, 12:49 AM
Apr 18

for the bottom line.Sounds kinda trumpian.

ProfessorGAC

(65,580 posts)
36. Good Catch
Fri Apr 19, 2024, 06:39 PM
Apr 19

When businesses are run by investors and not be people who know how to rum a business, bad things can happen.

SWBTATTReg

(22,297 posts)
20. Endless shrimp. Yeah, right. I run away from deals like this. The restaurants are jammed full, way too many
Thu Apr 18, 2024, 01:23 PM
Apr 18

people there for the shrimp special so the other dishes I enjoy there as well as service suffers at my expense. Another special I hate is the endless crab legs that some put on too.

It's a shame, for I do like the variety of seafoods that they offer, and now they, as well as the ones partaking the endless deals, are going to have NOTHING left. No more Red Lobster, no more shrimp...serves them right.

NanaCat

(1,716 posts)
22. And here I was thinking it was
Thu Apr 18, 2024, 02:06 PM
Apr 18

The dodgy food in general that would have brought them down. It's always tasted of overpriced frozen food heated up for the clientele,

Aristus

(66,587 posts)
30. My wife and I both have a palate for fine-dining.
Thu Apr 18, 2024, 02:35 PM
Apr 18

But we're not too proud to enjoy a casual dinner at places like Red Lobster (because she loves the lobster!), or even the DU-reviled Olive Garden.

We're both knowledgeable enough to know where to go when we want high-quality seafood or Italian food.

But sometimes, we just want a comfort meal at RL or OG.

Anyway, Red Lobster's Cheddar Bay biscuits are heavenly, and I'm not ashamed to say so.

But you'd think these places would remember the disasters previous 'all-you-can-eat' offers turned into. This is what happens when a restaurant chain is operated by a private equity firm instead of by people who understand the restaurant business. Incompetent, do-nothing executives coming up with cockamamie increase-profits schemes to justify their ridiculously high salaries.

BannonsLiver

(16,556 posts)
34. Yes, very similar views here.
Thu Apr 18, 2024, 05:39 PM
Apr 18

Love the cheddar bay biscuits and the admirals feast. Used to be my bday go to. Haven’t been in a while but would go back, what I don’t get is why they just didn’t simply end the promotion when it became clear it was a disaster.

debm55

(25,799 posts)
26. I heard it was the crap legs because there was no limit on how many plates you can get. I think with the shrimp they
Thu Apr 18, 2024, 02:28 PM
Apr 18

they limited it to three.

DinahMoeHum

(21,861 posts)
31. Never ever been to a Red Lobster. . .
Thu Apr 18, 2024, 02:38 PM
Apr 18

. . .though I've tried to get in a few times at one near my hometown way back when.

There had always been a line outside (and no reservations allowed); then from what I heard from others, the fare was not worth the delay.

No loss, AFAIC.

ret5hd

(20,601 posts)
32. They still encourage table-side...
Thu Apr 18, 2024, 03:22 PM
Apr 18

breast feeding/circumcision/pit bulls.

They discourage smoking, but only because of laws…they will sympathize with your cravings though.

Any utterance that their biscuits aren’t as good as Olive Garden bread sticks gets you a lifetime ban. Yes, lifetime. Be careful out there.

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