WWTBAM Bored

Red Lobster filed for Chapter 11 bankruptcy today, and many observers believe the company's decision to make its $20 endless shrimp promotion a full-time menu item last summer was a big cause. The company was originally owned by the same company that operates Olive Garden and Longhorn Steakhouses, but was sold about ten years ago to a private equity firm. Afterwards, the company's largest shrimp supplier, Thai Union, became a controlling shareholder. Thai Union was able to get a friendly CEO installed who changed the endless shrimp promotion to everyday and also terminated the contracts of Red Lobster's two other shrimp suppliers. The result was lots of people eating lots of shrimp but not ordering much else. The company closed 93 underperforming locations a week ago (including one near me).

Expect to see some litigation out of this filing to see whether there was actionable self-dealing on Thai Union's part.

https://www.cnn.com/2024/05/20/business ... index.html

The only Arizona location to close is the one here in Oro Valley. I never ate there.

I do love shrimp, though. I had CookUnity's gumbo for lunch.

*raises hand* Guilty!

Not guilty.

Both SteelersFan and I always have the shrimp fettucine alfredo. No endless shrimp.