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The Hustle Daily Show
Yes, Red Lobster is bankrupt. Now what?
May 22, 2024
The podcast discusses Red Lobster's bankruptcy filing and how the chain plans to move forward. They also cover Scarlett Johansson's clash with OpenAI, the influence of Taylor Swift on European flight demand, and the evolving fast-food competition. Tune in for insights on CEO pay levels, Comcast's streaming bundle, and the challenges faced by Red Lobster in the changing restaurant industry.
16:18
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Quick takeaways
- Red Lobster's financial struggles resulted from mismanagement of all-you-can-eat shrimp deal, highlighting costly decisions.
- Red Lobster's potential recovery involves downsizing, consolidating locations, and focusing on takeout to adapt.
Deep dives
Impact of Endless Shrimp Deal on Red Lobster's Financial Woes
The podcast explores how Red Lobster's decision to extend their all-you-can-eat shrimp deal led to significant financial losses estimated at $11 million, contributing to the chain's current financial struggles. This move, aimed at increasing demand, backfired as costs outweighed profits, highlighting a concerning trend of mismanagement.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode