Drowning in citing declining sales and rising costs, national seafood chain Red Lobster is preparing to file for Chapter 11 bankruptcy as early as next week, the Wall Street Journal reports.
The Journal however does not cite what other outlets are widely attributing to the ongoing crustacean cash crunch: customers taking Red Lobster’s “Endless Shrimp” promotion just a bit more literally than anticipated. USA Today in November reported that the run on unlimited fried sea bugs cost the chain millions, with the losses leading to the closures of dozens of locations.
Naturally the MAGA trolls had been blaming “Bidenomics” for Red Lobster’s woes because what good is a self-created business clusterfuck if it can’t be used to further a right-wing narrative?