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Red Lobster Eyeing Chapter 11 Bankruptcy After "Endless Shrimp" Loss

The signage of Red Lobster is being seen at 5201 S Pulaski Rd in Chicago, Illinois, United States, on May 15, 2024. Red Lobster is considering Chapter 11 bankruptcy to recoup $11 million in losses from its endless shrimp promotion. Red Lobster's ''Ultimate Endless Shrimp'' promotion last year is being considered a limited-time offer, but it is bringing in an adequate number of new customers, leading the chain to add it to its permanent menu in June. Customers are gorging on it, and Red Lobster is reporting fourth-quarter 2023 losses of $12.5 million. (Photo by Kyle Mazza/NurPhoto)

Photo ID	#11241958
Date Taken	15 May 2023
Location	N/A
Photographer	Kyle Mazza/NurPhoto
Category	Crime, Law and Justice
Copyright	© 2026 NurPhoto - Kyle Mazza/NurPhoto

Red Lobster restaurant 5201 S Pulaski Rd Chicago Illinois United States May 15 2024 Chapter 11 bankruptcy $11 million losses endless shrimp promotion Ultimate Endless Shrimp limited-time offer new customers permanent menu June gorged fourth-quarter 2023 $12.5 million losses Kyle Mazza NurPhoto signage financial trouble dining chain seafood restaurant promotion impact customer response financial recovery business strategy menu addition revenue loss marketing campaign customer attraction financial performance economic challenges.