Struggling Seafood Chain Keeps Closing Restaurants, Only 18 Left
Affordable seafood has been a challenge for restaurants. Red Lobster fell into bankruptcy partly because it offered an all-you-can-eat shrimp promotion.
Shrimp is an expensive protein, and people can eat a lot of it. That promotion, which was only one factor in Red Lobster's eventual Chapter 11 bankruptcy filing, cost the company $11 million.
The challenge with offering affordable seafood is that seafood just isn't cheap. In theory, you can lure people in with shrimp, lobster, and crab leg deals, hoping to sell them high-margin...
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