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But the sign said "All you can eat!" (hexbear.net)

submitted 4 months ago* (last edited 4 months ago) by [email protected] to c/[email protected]

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

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[–] [email protected] 44 points 4 months ago (1 children)

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.

[–] [email protected] 28 points 4 months ago* (last edited 4 months ago) (2 children)

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

[–] [email protected] 10 points 4 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.

[–] [email protected] 5 points 4 months ago

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