How Endless Shrimp Sank Red Lobster #179

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How Endless Shrimp Sank Red Lobster #179

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This week, Harley, Donnie, and Big Lynch break down how a $20 all-you-can-eat shrimp deal exposed the cracks in a 56-year-old icon and dragged Red Lobster into bankruptcy court. The boys trace it from founder Bill Darden to the $2.1 billion private-equity sale to Golden Gate, the sale-leaseback that gave away the land out from under the restaurants, and Thai Union, the shrimp supplier that also owned the company and allegedly steered Red Lobster into buying its shrimp at a premium. Then there's the CEO who turned a limited-time promo into a permanent everyday menu item, the $11 million lost in a single quarter, the $530 million write-off, the Chapter 11 fire sale, and a new CEO now trying to make Red Lobster fun again with hush puppies, happy hour, seafood boils, and a cautious return of Endless Shrimp. Plus: a food-myth fact-or-fiction round, the "100% beef" McDonald's wrapper conspiracy, Donnie's theory that shrimp are spider cousins, and the $2,200 AR glasses nobody asked for. New episodes of Double Dusted Discussion, every Monday!Tell us what you think at r/EpicMealTime, @EpicMealTime on Twitter, or business@epicmealtime.com.Make sure to subscribe and follow the podcast. New episodes every Monday! Learn more about your ad choices. Visit podcastchoices.com/adchoices

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