EDITION: Wilkes County
FAQs PLACE A CLASSIFIED AD ADVERTISE YOUR BUSINESS
55 °
Overcast
Registered Users, Log In Here
Red Lobster ponzi scheme

UnoFire

Posted 9:54 pm, 05/22/2024

Did anyone ever eat at that place?

hillbilly666

Posted 5:42 pm, 05/22/2024

Makes sense with the all you can eat shrimp deal. Crazy

antithesis

Posted 2:44 pm, 05/22/2024

Interesting story about the Red Lobster bankruptcy...

Essentially, a Thailand based canned seafood company, Thai Union, had more shrimp than they could sell, so they were starting to lose money. In 2020 they purchased a majority share of Red Lobster stock, then installed their own CEO.

That CEO then signed a deal with the shrimp supplier, agreeing to exclusively buy shrimp from them for whatever price they wanted.

This let Thai Union more or less drain the Red Lobster coffers. Then Thai Union sold their stake in January, just in time for Red Lobster to file bankruptcy.

KFC
Now hiring all locations
6 Day Bahamas Cruise - April 13, 2025
Attention all 1975 babies! Our big 5-0 is right around the corner, and what better way to celebrate than with an unforgettable cruise to the Bahamas?! All are welcome to celebrate. Click for details.
Advertise your business here for $5/day
This is crazy: in December 2023, the average banner here was seen 1,139,054 times and was clicked 170 times! Click here to advertise for less than $5 /day.