Red Lobster – One America News Network

ARLINGTON, VIRGINIA - AUGUST 20: In this photo illustration, a burger, fries, and chicken tenders from BurgerFi are displayed on August 20, 2024 in Arlington, Virginia. BurgerFi International warns of possible bankruptcy, joins growing list of embattled restaurant brands in 2024. (Photo Illustration by Tierney L. Cross/Getty Images)

BurgerFi Files For Chapter 11 Bankruptcy Joining Other Restaurant Chains

BurgerFi filed for Chapter 11 bankruptcy on Wednesday, joining other restaurant chains that have already made the financial move.

FREMONT, CALIFORNIA - MAY 14: A sign is posted in front of a Red Lobster restaurant on May 14, 2024 in Fremont, California. Less than one month after restaurant chain Red Lobster considered filing for Chapter 11 bankruptcy to address rising labor costs and in hopes of renegotiating property leases and long-term contracts, 87 Red Lobster locations abruptly closed their doors in 27 states across the country. (Photo by Justin Sullivan/Getty Images)

Red Lobster Files For Chapter 11 Bankruptcy After Disaster All-You-Can-Eat Shrimp Promotion

The Seafood chain Red Lobster, which lost millions over its all-you-can-eat-shrimp promotion last year, has officially filed for bankruptcy after the chain shut down almost 100 locations last week.

SAN BRUNO, CA - MAY 16: A sign is posted in front of a Red Lobster restaurant on May 16, 2014 in San Bruno, California. Darden Restaurants announced an agreement to sell its Red Lobster restaurant chain and and related real estate to investment firm Golden Gate Capital for $2.1 billion. (Photo by Justin Sullivan/Getty Images)

Red Lobster Lost $11M In Third Quarter For Unlimited Shrimp Promotion

Red Lobster’s endless shrimp promo deal has reportedly cost the food chain $11 million dollars.