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Red Lobster eyes bankruptcy option after $11M in losses from endless shrimp (abcnews.go.com)

submitted 7 months ago by OldManBOMBIN@lemmy.world to c/nottheonion@lemmy.world

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"Last year, Red Lobster reported $11 million in operating losses following its flubbed 'Ultimate Endless Shrimp' deal, which backfired when it reeled in too many customers after the limited-time promo became a permanent menu fixture last June. The restaurant chain later reported $12.5 million in losses in the fourth quarter of 2023."

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[–] OldManBOMBIN@lemmy.world 21 points 7 months ago (3 children)

The cost here for shitty frozen shrimp is about $13 for 2lbs of "31-40" (31-40 shrimp per lb); at that cost, averaging 35 shrimp per pound, you could buy approximately 29,615,385 shrimp, which would weigh around 400 tons. I think I did that math right. It's late.

[–] SpaceNoodle@lemmy.world 16 points 7 months ago (1 children)

And you know they ain't buying it at the Piggly Wiggly, but at a deep discount they negotiated ages ago with their distributor(s).

[–] OldManBOMBIN@lemmy.world 1 points 7 months ago

Those are Walmart prices, but yeah for sure

[–] MisterNeon@lemmy.world 8 points 7 months ago (1 children)

Appreciate you. You're causing me and my friends to consider indoor shrimp farming for profit.

[–] OldManBOMBIN@lemmy.world 4 points 7 months ago

Probably don't do that, but if you do, send me some shramp

[–] Gork@lemm.ee 3 points 7 months ago (1 children)

I'll take two pallets of frozen shrimp please

[–] OldManBOMBIN@lemmy.world 5 points 7 months ago

That'll be $4

(I have tiny pallets)