We all love a bit of Red Lobster, right? But, the restaurant got really close to bankruptcy recently, and they even recently warned of more closures. One of the things that may have contributed to Red Lobster's rough patch was their infamous Ultimate Endless Shrimp deal in 2023.
But now, as reported by the New York Post, they're bringing it back, for better or for worse. A limited time version has been announced, and it could be coming as soon as this month. And, the best part? It's still $20.
But, Red Lobster are being all hushy about it. A rep for the popular restaurant chain said they don't have "anything to announce at this time". But, they did mention that endless shrimp was one of their most popular promotions. As well as this, Red Lobster also didn't immediately respond to the outlet's request for comment.
But, given the popularity of the Red Lobster deal, it's most likely coming back. CEO Damola Adamolekun, who was hired after his great effort in bringing PF Chang's back to life, was keen to revive the chain. He said he will make Red Lobster perform "the greatest comeback in the history of the restaurant industry."
Videos by Wide Open Country
The Permanent Endless Shrimp Deal Caused Big Problems For Red Lobster in 2023
We all remember when Red Lobster put out their endless shrimp deal. But, what you don't probably remember, assuming you're not a financial analyst, is that they lost $11 million in a single quarter because of the deal. Crazy stuff, right?
Before the disastrous 2023 expansion, the endless shrimp was always a seasonal and limited-time affair. But, the previous owners tried to expand it into a permanent deal. That was a really bad idea.
It caused the restaurant chain to go through massive inventories of shrimp in such a short amount of time. Which cost them a lot of money. But, now the deal's coming back in its previous form.
Adamolekun and other Red Lobster execs are hoping that they can turn a profit this year, after being $52 million in the red as of last year. But as long as there's shrimp involved, I don't mind all that much.
