Posted on 11/28/2023 6:30:58 PM PST by End Times Sentinel
Red Lobster faced a staggering $11 million loss in the third quarter of 2023 - which the company's CFO is blaming on the restaurant's all you can eat shrimp deal.
Financial reports from the third quarter - running from July 1 through September 30 - showed the iconic American seafood restaurant's drastic downfall.
Red Lobster wanted to lure more customers in after facing a significant financial loss of $5.4 million in the second quarter - but they massively fumbled their plans by offering an 'all you can eat' promotion that was a bit too generous.
The 'Endless Shrimp' offer was initially a special - but in June it claimed a permanent spot on the Red Lobster menu, and for just $20 diners could indulge in as much of the shellfish as they could stomach.
Foot traffic at the chain restaurant increased by four percent after the deal popped up as a permanent offer in June.
(Excerpt) Read more at dailymail.co.uk ...
I can’t eat but 2 servings, even then I sometimes take some home.
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At an “all you can eat” place? Isn’t that theft?
Great story - and thank you for the recipe! Perfect timing, as I have shrimp I need to cook, asap! I’ll do this tomorrow night! Best, Billy
Good Luck!
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