Red Lobster Endless Shrimp back after bankruptcy
After filing for Chapter 11 Bankruptcy two years ago, Red Lobster has brought back its Endless Shrimp promotion — the very thing that contributed to the chain’s bankruptcy in the first place.
Red Lobster reported $11 million in operating losses in 2024 after a failed “Unlimited Shrimp Deal” rollout. The chain attempted to make it a permanent menu option rather than a limited-time promotion.
Endless Shrimp is back at Red Lobster. When does it start?
On April 20, Red Lobster announced that Endless Shrimp is making a limited-time comeback after the all-you-can-eat special was removed from the menu in 2024, according to a story by USA Today.
“Endless Shrimp has been a part of Red Lobster’s legacy for 20 years and our guests have never stopped asking for it,” Red Lobster CEO Damola Adamolekun said in a news release. “We’re excited to bring it back, for a limited time, in a way that works for our business today and honors what made it special from the beginning. Because when our fans talk, we listen.”
Why did Red Lobster file for Chapter 11 bankruptcy?
When the company filed for Chapter 11 bankruptcy in 2024, it said in a statement that “it intends to use the proceedings to drive operational improvements, simplify the business through a reduction in locations, and pursue a sale of substantially all of its assets as a going concern. As part of those filings, Red Lobster entered into a stalking horse purchase agreement pursuant to which Red Lobster will sell its business to an entity formed and controlled by its existing term lenders.”
Red Lobster’s restaurants remained open and operating as usual during the Chapter 11 process.
Then CEO Jonathan Tibus said in a news release that “this restructuring is the best path forward for Red Lobster. It allows us to address several financial and operational challenges and emerge stronger and refocused on our growth. The support we’ve received from our lenders and vendors will help ensure that we can complete the sale process quickly and efficiently while remaining focused on our employees and guests.”