LULU - The Craziest Parts Of The Red Lobster Bankruptcy Story Revealed | Benzinga
Red Lobster, formerly the largest seafood restaurant chain in the world, officially filed for Chapter 11 bankruptcy protection on Monday. The chain, formerly owned by restaurant group Darden Restaurants Inc (NYSE:DRI), began auctioning off kitchen equipment at some locations, but does not plan to fully shut down operations, according to its CEO, Jonathan Tibus.
Here are some of the juiciest details regarding the seafood chain's demise:
The Endless Shrimp Promotion
Red Lobster famously offered its “Endless Shrimp” promotion, where customers could pay around $20 to eat as much shrimp as they wanted. Customers could order various shrimp dishes, including ...