The monkey’s paw curls on endless shrimp
Red Lobster’s shrimp promotions may have contributed to jumbo problems for the company.
The seafood chain is considering a bankruptcy filing to deal with cash flow problems, Bloomberg reports.
Red Lobster has been weighed down by pricey leases and labor costs, but it’s important to remember that it also blamed an $11M operating loss last fall in part on too many people going crustacean-mode on its Ultimate Endless Shrimp deal.
“The proportion of the people selecting this promotion was much higher compared to expectation,” said Red Lobster owner (and seafood supplier) Thai Union Group last year. The chain bumped the price of infinite shrimp by 25%, but Lobsterfest and Cheddar Bay Biscuits may not be enough to save it from Chapter 11.
“The proportion of the people selecting this promotion was much higher compared to expectation,” said Red Lobster owner (and seafood supplier) Thai Union Group last year. The chain bumped the price of infinite shrimp by 25%, but Lobsterfest and Cheddar Bay Biscuits may not be enough to save it from Chapter 11.
