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.
Categories: $1 billion$10 billion$16.7 million$20 promotion$25 promotion$530 million write-off$76 million loss000 employees30% drop-off36all-you-can-eat shrimpalmost 700 locationsasset saleAssetsbankruptcyBusinessbusiness simplificationCEOChapter 11evictionsfive CEOsFloridafounded in 1968fourth quarterguest countJames MeyersJonathan TibuslandlordsliabilitieslocationsOAN Newsroomoperational improvementspennywisepound foolishRed Lobstersalesseafood chainThai UnionThailandTodays Headlinesunpaid wagesvendors