00:00 $20 ultimate endless shrimp may have brought on financial ruin for Red Lobster. The company
00:07 made the offering permanent last year. Well, it brought in customers all right. CNN reports
00:12 the company claimed an $11 million operating loss. Revenue dropped significantly and COVID
00:18 impacted 2020. The restaurant had also faced competition from other fast casual and fast
00:24 food brands. The seafood chain reported between $1 billion and $10 billion in debt. It began
00:32 shuttering more than 50 US locations. Red Lobster has more than 700 locations globally
00:38 according to its website. It's unclear whether recent closures were included in that number.
Comments