Red Lobster May be Next to File for Bankruptcy

Could you imagine a life without access to Red Lobster's signature Cheddar Bay Biscuits? That's not a life I want to imagine.

According to Delish.com, Red Lobster is reportedly heading for bankruptcy due to a number of issues.

One of the things they name is their endless shrimp. At $20 is a deal if you can get your share but the company had reported losing $11 million with that deal alone. They have since raised the price to $25, which is still a good deal, but may be hard to recoup those costs. It makes you wonder if they'll just remove that option all together.

Other contributing factors since the pandemic include the rise of labor costs.

Last year Red Lobster closed 8 locations of the almost 650 locations so that's not too bad. Everyone is hoping they don't have to close any more locations but I could see them doing so with locations that don't see as much foot traffic.

Filing for bankruptcy doesn't mean they're closing every store, it just means it may put them back on track after losing a reported a 22 million dollar loss.

You can read more at Delish.

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