“Last year, Red Lobster reported $11 million in operating losses following its flubbed ‘Ultimate Endless Shrimp’ deal, which backfired when it reeled in too many customers after the limited-time promo became a permanent menu fixture last June. The restaurant chain later reported $12.5 million in losses in the fourth quarter of 2023.”

  • @[email protected]
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    8728 days ago

    Filing bankruptcy over 11 million? Really? Doesn’t seem like a lot for a big restaurant chain.

    • @wreckedcarzz
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      8828 days ago

      Well considering that I’m a “millennial” and literally not a single person I know has ever visited, requested, or mentioned Red Lobster as a restaurant choice… they might have deeper trouble than some shitty shrimp. Can’t run a business forever when your largest potential market is 65+…

      • @[email protected]
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        5528 days ago

        The “endless shrimp” excuse seems like a marketing ploy. Doesn’t hit as hard as “no one’s coming to our restaurants to eat our shitty food.”

      • @turmacar
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        2628 days ago

        The biscuits are the best part and they sell the mix, so not a lot of reason to visit if there’s any other options for seafood.

      • Malle_Yeno
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        1428 days ago

        I live in Saskatchewan, which is as land locked as it gets in Canada. And for some reason, my city has a Red Lobster. I don’t think I’ve heard anyone talk about going to it because who would expect a seafood restaurant all the way out here to be good? I have no clue how they’re making enough money to operate.

        (Also, nice pfp! 🐾 )

        • @Wrench
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          1928 days ago

          Everything in red lobster is frozen anyway.

          But then again, all fish is frozen before being served to kill parasites. Even the most delicious sushi will be flash frozen first. I’ve had high end raw fish in Las Vegas, a literal dessert.

          That said, yeah, Red Lobster isn’t going to be top notch on the coast, let alone butt fuck nowhere.

      • FlashMobOfOne
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        827 days ago

        Once their cheddar biscuits became purchasable on a store shelf, I imagine that decreased the impetus to visit the actual restaurant.

        Their biscuits are the best part.

      • @stoly
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        727 days ago

        In the late 90s I mentioned never having tried lobster. This resulted in a dangerous u-turn and a drive to the closest red lobster. Only time I went and I forgot until your comment.

      • @brygphilomena
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        527 days ago

        They always had the perception of expensive for me. So growing up, they were a special occasion place to get seafood. I’ve been a few times in the last few years. Their food was good, but not great and the places were never packed.

        Between Red Lobster and almost any other seafood place, the other one would win out for taste and quality.

        They had a huge marketing issue, offering “cheap” all you can eat, but making the place look and try to feel like a upscale option when it was basically a seafood Applebee’s.

        • @stoly
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          127 days ago

          It’s like Panera or Olive Garden. Just boring flavorless food that is only attractive to people who don’t know better.

      • @[email protected]
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        528 days ago

        For me it’s just not really an option because there are no locations in Québec. The closest one is in Ottawa, two hours away.

        It’s one of our favorite places to go eat when we go to Ottawa. It’s honestly not as bad as people say it is. The food is always great at that location.

        • wolfkin
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          828 days ago

          @cyborganism @wreckedcarzz If you take internet reviews there are only three types of restaurants.

          1. Excellent places that deserve their Michelin Stars

          2. Excellent places that should have Michelin Stars

          3. Diarrhea fuel garbage pits. With food so disgusting you shouldn’t even feed it to the stray dog that bit your baby.

          On our national deal hunting website you can see all the “It gives you diarrhea comments” every time there’s a coupon for McDonalds or franchised Shawarma

          • @Serinus
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            428 days ago

            Chain restaurants also have a ton of variance. Most Olive garden is shit these dates, but A. They were great in the mid 90s before they enshittified, and B. I’m sure there’s still a great Olive Garden out there somewhere.

            • @Num10ck
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              327 days ago

              olive garden is the same company as red lobster and chili’s

      • @wolfpack86
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        427 days ago

        It is peak 90s restaurant culture.

        And then in some areas seen as luxury. Same goes for Olive Garden.

      • wolfkin
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        28 days ago

        @wreckedcarzz @cyborganism

        this is hilarious fellow millennial, because I just went to Red Lobster today and had a great time.

        Of course this was the first time I’ve been in 20+ years so it’s not like I’m a regular.

      • @[email protected]
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        227 days ago

        I’ve been to red lobster once and spent a very uncomfortable period of time on the porcelain throne shortly after. The news of bankruptcy does not surprise me.

        • @AngryCommieKender
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          127 days ago

          You can make them at home. Sam’s Club, and Costco both sell the dough mix. It also allows you to use white extra sharp cheddar to make them that much yummier

    • @The_v
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      3028 days ago

      The previous owners purchased the company via a leveraged buyout. It’s not one quarters losses, it’s the massive long-term debt on it’s books.

      This is a handy excuse to fuck over employees and suppliers.

    • @OldManBOMBINOP
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      928 days ago

      It’s also really expensive importing biscuits from Cheddar Bay

  • @RagingRobot
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    6728 days ago

    Why didn’t they stop doing it sooner? Lol once they saw it was costing too much they could have retired it and made up some new marketing crap.

    • RubberDuck
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      3828 days ago

      Or… raised the price. You know… capitalism. They seemed to have failed econ 101. Or the bankruptcy is a good way to get out from under debt and start over. It’s the American way.

      • @[email protected]
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        627 days ago

        The endless shrimp reason is just BS.

        They’re old restaurants and people just don’t go there to be “fancy” anymore. Younger people just don’t eat a lot of crab, shrimp, and lobster nowadays, and due to ocean issues crab prices and seafood prices have increased even more than beef and other food costs, so they’re having to charge more more things fewer people want to go there for. They keep hauling in more and more, but prices have tripled over the past 10 years or so for lobster. Same over the last several years with crab. Especially with the mass die off of snowcrab a year or so ago.

    • @Stupidmanager
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      2027 days ago

      They tried all sorts of tricks actually. But this event brought people in. In the 90’s I’d see it on the local news about the hour long waits and whatnot. This was still true up until the last time I went.

      I recall they slowed service, refill limits at a time, even type of order repeat(not getting 10 scampi in a row). I was a fan of the grilled shrimp and as a teen could eat 20 orders (a feat I’m not so proud of now). As an adult I stopped eating there when I realized what I was doing to my body (mid 00s).

      I was never asked to leave due to the amount I ate, but I experienced some of these. damn if it wasn’t 5-10 minutes between food, couldn’t order more until you had cleared the only 2 plates allowed at a time, never find the waiter, etc. oh, and they would bring those ungodly amazing biscuits over, “to hold me over”.

      I do not miss the man I was back then. I can honestly say I’m half the man I was then.

      • @AngryCommieKender
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        -127 days ago

        You can make the biscuits at home. I personally would find better recipes for much of the rest of their menu.

        • @Stupidmanager
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          327 days ago

          Yeah. I have made them since I stopped going there. And far better than the box mix you buy at the store.

  • @Dagnet
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    3828 days ago

    First time I heard of this, feels like I missed a huge opportunity

    • @weariedfae
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      1628 days ago

      Same. I love me unlimited shrampies. I had no idea it was permanent on the menu.

    • @OldManBOMBINOP
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      928 days ago

      Same here. It was always overshadowed by unlimited soup salad and bread sticks I guess.

    • KingJalopy
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      -2228 days ago

      Of eating shitty frozen shrimp? No, no you did not miss an opportunity.

      • downpunxx
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        4328 days ago

        all shrimp purchased in stores that aren’t dockside are frozen. all shrimp purchased in restaurants that aren’t dockside are frozen. shrimp are iced on the boats when they’re caught, which … wait for it … freezes them. every single last one.

        • KingJalopy
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          -4228 days ago

          So shrimp is shitty. Got it. Don’t eat it anyway, because it’s shit. No opportunity missed here.

          • @[email protected]
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            28 days ago

            That goes for all fish and seafood. Unless you caught it yourself, or personally know who did, it’s frozen.

            Blind taste tests have shown most people can’t tell the difference. Of the few who can, most prefer the frozen. Probably because it’s what they’re used to. “Fresh Seafood” is a scam

            • @Mog_fanatic
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              1228 days ago

              I have personally done a blind taste test just for fun with several different types of fish that my family caught and the two of us that were doing it both couldn’t tell for shit what was frozen and what wasn’t. Anecdotal for sure but I thought for sure I’d be able to tell easily.

            • KingJalopy
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              -3128 days ago

              That goes for all fish and seafood.

              Agreed. I don’t eat any of that shit. I don’t like it. Lol

      • @BradleyUffner
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        628 days ago

        “Stop liking what I don’t like!”

      • @weariedfae
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        528 days ago

        Quantity + salt and butter > quality lol

        (Joking, fresh is best obvs.)

          • @weariedfae
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            27 days ago

            Whut?

            Edit: like …are you arguing that fresh seafood isn’t inherently better than literally any other age of seafood because of course it is? I’m legit confused, lol.

            • NoIWontPickAName
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              127 days ago

              You just come off very snobbish in that comment.

              Yes, obviously fresh food is best, but not everyone can have that.

              Maybe it’s just me

              • @weariedfae
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                25 days ago

                Sorry? I was just joking around about shrimpfest.

                Edit: removed irrelevant personal story

  • @Ultragigagigantic
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    27 days ago

    Every time I went to get a “All you can eat” deal from places that weren’t normally a buffet you would have to wait for a waiter to bring you more and the waiter hates the extra trips to the table and/or the owner tells their employees to drag their feet bringing more and makes the amount they bring miniscule. Just an awful experience the couple times I tried.

    I don’t go out to eat except for a Asian buffet a couple times a year. I’d rather eat cheetos in the basement.

    Sorry mcdonalds and taco bell, your shit was barely worth it when it was cheap. Insane prices coming out of the fast food industry these days.

    I own a oven and can buy frozen pizzas, get fucked.

    • SatansMaggotyCumFart
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      627 days ago

      Fucking the frozen pizza is slightly better than fucking them straight out of the oven.

  • @MashedTech
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    2327 days ago

    If that much loss is going to bring down a corporation? Maybe the corpo wasn’t being taken care of good enough

    • @[email protected]
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      27 days ago

      I bet this is just the setup for when they try to weasel their way out of California’s minimum wage and then when they win, they’ll use the same playbook to try to get around minimum wage in other states. This could cause a snowball effect where a nonzero number of employers get a free pass on select labor laws.

      Hopefully they just lose and go out of business.

    • Aatube
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      126 days ago

      the frying dutchman is actually a killer name

  • Mister Neon
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    2128 days ago

    What does 11 million dollars in shrimp look like? Let alone 11 million in losses, how much god damn shrimp is that? Was cocktail sauce calculated into this?

    • @OldManBOMBINOP
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      2128 days ago

      The cost here for shitty frozen shrimp is about $13 for 2lbs of “31-40” (31-40 shrimp per lb); at that cost, averaging 35 shrimp per pound, you could buy approximately 29,615,385 shrimp, which would weigh around 400 tons. I think I did that math right. It’s late.

      • @SpaceNoodle
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        1628 days ago

        And you know they ain’t buying it at the Piggly Wiggly, but at a deep discount they negotiated ages ago with their distributor(s).

        • @OldManBOMBINOP
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          128 days ago

          Those are Walmart prices, but yeah for sure

      • Mister Neon
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        828 days ago

        Appreciate you. You’re causing me and my friends to consider indoor shrimp farming for profit.

        • @OldManBOMBINOP
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          428 days ago

          Probably don’t do that, but if you do, send me some shramp

        • @OldManBOMBINOP
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          528 days ago

          That’ll be $4

          (I have tiny pallets)

  • @hark
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    1827 days ago

    I’ve only gone to red lobster for the endless shrimp (though there are much better all-you-can-eat options out there). They should try making their regular offerings better. It also doesn’t help that private equity is in the middle of raiding the company and that’s probably the main reason they’re currently eyeing bankruptcy.

    • @Jimmycakes
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      827 days ago

      Same with olive garden they want the decades old prime real estate. They could give a fuck about the restaurant

  • HobbitFoot
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    1427 days ago

    I’m not surprised. Every endless seafood deal Red Lobster did lost money.

  • @SlopppyEngineer
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    1428 days ago

    Some people can’t help themselves at the seafood buffet