Dead Lobster: seafood chain sinking into bankruptcy

Red Lobster is losing money claw over fist. Bloomberg reports the seafood chain is heading for bankruptcy. The reasons are many, including the high operating costs and expensive promotions such as Endless Shrimp.

Seafood restaurant chain Red Lobster is mulling a Chapter 11 bankruptcy filing as it looks to restructure its debt, according to people with knowledge of the matter.

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