Joe Soto

Joe Soto

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Red Lobster eyes bankruptcy after $11M loss from endless shrimp promotion

Red Lobster is in hot financial waters, attempting to stay afloat by eyeing Chapter 11 bankruptcy to restructure its debts after an endless shrimp promotion sank the seafood restaurant chain's bottom line, Bloomberg reported this week.

Red Lobster eyes bankruptcy after $11M loss from endless shrimp promotion. See story here.


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