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But the sign said "All you can eat!" (hexbear.net)
submitted 2 years ago* (last edited 2 years ago) by to c/chapotraphouse@hexbear.net
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https://people.com/red-lobster-is-considering-bankruptcy-partly-due-to-11-million-loss-from-endless-shrimp-deal-report-8635031

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[–] 44 points 2 years ago (3 children)

It makes for a funny headline, but that's like 0.4% of the chain's total revenue of around 2.6 billion in 2023

More likely the private equity firm that bought Red Lobster is running it into the ground on purpose to do some credit bidding buy back bankruptcy scam that's somehow technically legal to write off a bunch of debt.

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  • [–] 28 points 2 years ago* (last edited 2 years ago) (2 children)

    I think it's an ad.

    I'm Crazy Eddie and my furniture prices are so low I must be insane!

    Red Lobster's all you can eat shrimp is such a great deal they're considering bankruptcy!

    Or maybe I'm too paranoid. shrug-outta-hecks

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  • [–] 10 points 2 years ago

    On the one hand I wouldn't be surprised if there was some "Hollywood marketing" going on here to evade taxes, on the other I can't remember the last time I or anyone I know ate at a Red Lobster so I wouldn't be surprised if it's going bankrupt.

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