Red Lobster’s disastrous ‘Endless Shrimp’ deal was owner’s scheme to squeeze profits: lawsuit

Business Red Lobster’s disastrous ‘Endless Shrimp’ deal was owner’s scheme to squeeze profits: lawsuit By Taylor Herzlich Published June 25, 2026, 5:31 p.m. ET See more of our coverage in your search results. Add The New York Post on Google The $20 “Endless Shrimp” deal that ultimately sent Red Lobster into bankruptcy wasn’t just a failed experiment – but a scheme by its owners to squeeze the company, according to a new lawsuit. Leading up to its 2024 bankruptcy filing, Thai Union – a major seafood producer and then-owner of Red Lobster – was trying to “squeeze out every drop of value” from the iconic restaurant chain, according to a suit filed last month in the Ninth Judicial Circuit Court in Florida.

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