Did a $20 shrimp promotion sink a seafood giant?

Red Lobster, once America’s largest casual dining seafood chain, has declared bankruptcy. This video examines whether a permanent 'Endless Shrimp' deal contributed to the company's collapse.

The bankruptcy of the chain, which operated nearly 600 locations across the United States and Canada, has raised questions about its management decisions. Specifically, the move to make the $20 'Endless Shrimp' deal a permanent menu item is linked to an $11 million loss.

The bankruptcy declaration suggests a potential conflict of interest involving the company's equity owner, who also served as its primary seafood supplier. Investigators are looking into whether this owner leveraged their position to extract value through excessive shrimp sales before the company's equity became worthless.

Source: Was Endless Shrimp to Blame for Red Lobster's Bankruptcy?