Red Lobster redefined American dining habits by making seafood accessible to people living outside the coasts. But its heyday didn’t last. Casual observers believe Red Lobster’s demise was an open-and-shut case of an all-you-can-eat deal backfiring. But there are plenty of other suspects. And as America’s #1 seafood restaurant chain fights to keep its head above water, it must reckon with whether it can trust Wall Street’s offer of a lifeline.

Be the first to know about Wondery’s newest podcasts, curated recommendations, and more! Sign up now at https://wondery.fm/wonderynewsletter

Listen to Business Wars on the Wondery App or wherever you get your podcasts. Experience all episodes ad-free and be the first to binge the newest season. Unlock exclusive early access by joining Wondery+ in the Wondery App or on Apple Podcasts. Start your free trial today by visiting wondery.com/links/business-wars/ now.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.