What REALLY Killed Red Lobster
May 21, 2024
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12:54Now PlayingWhat REALLY Killed Red Lobster
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as posted by the channelSeafood chain Red Lobster has filed for bankruptcy after an unfortunate series of events that dwindled earnings. Cenk Uygur and Ana Kasparian discuss on The Young Turks. Your Support is Crucial to the Show
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"Red Lobster, the largest seafood restaurant chain in the U.S., filed for bankruptcy after failing to recover from dwindling traffic it suffered during the pandemic as menu prices crept higher. An unlimited shrimp deal also took a bite out of earnings.
The chain plans to sell its business in the bankruptcy process, with lenders led by Fortress Credit designated as the bidder to beat. It also plans to reduce the number of restaurants it operates."
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