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Endless Shrimp Deal Was Scheme to Squeeze Red Lobster, Suit Says
Key Points
Legal Endless Shrimp Deal Was Scheme to Squeeze Red Lobster, Suit Says Red Lobster’s $20 all-you-can-eat shrimp deal wasn’t just a badly designed promotion that inadvertently helped tip the iconic American restaurant chain into bankruptcy. It was part of a scheme to “squeeze every drop of value” from Red Lobster for the benefit of its then-owner, seafood giant Thai Union Group Pcl, according to a previously unreported lawsuit. The suit against Thai Union and certain executives, brought on...
Legal
Endless Shrimp Deal Was Scheme to Squeeze Red Lobster, Suit Says
Red Lobster’s $20 all-you-can-eat shrimp deal wasn’t just a badly designed promotion that inadvertently helped tip the iconic American restaurant chain into bankruptcy.
It was part of a scheme to “squeeze every drop of value” from Red Lobster for the benefit of its then-owner, seafood giant Thai Union Group Pcl, according to a previously unreported lawsuit. The suit against Thai Union and certain executives, brought on behalf of creditors that were owed about $295 million when the chain filed for bankruptcy in 2024, demands a jury trial to determine monetary damages.
[Image text:] RED LOBSTER