After losing $22 million over the last year, partially by way of consumers taking advantage of the ‘Endless Shrimp’ promotion, Red Lobster is considering filing for Chapter 11 bankruptcy. The outlet reported that the seafood restaurant chain is being advised by law firm King & Spalding on the subject, and that while discussions about restructuring are ongoing and that no final decisions have been made about a bankruptcy filing.
Red Lobster did not immediately respond to a request for comment.
