What Bankrupted Red Lobster | Fortune Daily
Did $20 Endless Shrimp really sink Red Lobster—or was it just a punchline hiding a much bigger financial disaster?
A new Fortune investigation reveals that the viral promotion was only the tip of the seafood tower. Behind the bankruptcy, mass restaurant closures, and devastated employee pensions lies a story of private-equity deals, skyrocketing lease obligations, and allegations of self-dealing by former owners.
Fortune Business Editor Nick Lichtenberg joins Fortune Daily to break down how an iconic American dining staple lost its way, who really profited, and what this collapse signals for…
The skinny
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