Red Lobster Reintroduces Shrimp Promotion as Chain Rebuilds After 2024 Bankruptcy

Red Lobster has reintroduced a scaled‑back version of its most famous promotion, rolling out an "Ultimate SpendLESS Shrimp" offering at participating locations for $15.99 as the chain works to recover from a bankruptcy filing last year.

The limited‑time menu package includes Garlic Shrimp Scampi, Shrimp Linguini Alfredo and Popcorn Shrimp; prices may be higher in California, Hawaii, Nevada, New York and Canada, the company said. The promotion is not an all‑you‑can‑eat offer but is being marketed as an affordable way for customers to sample multiple shrimp dishes.

The relaunch comes after the chain blamed a previous "Endless Shrimp" deal for contributing to its Chapter 11 bankruptcy filing on May 19, 2024. Executives have said the original promotion, which launched at $20 and was later raised to $25 as costs rose, encouraged diners to consume more shrimp than anticipated and eroded margins. Company filings and executive comments attributed roughly $21 million of the chain's roughly $300 million in debts to that promotion.

At its peak, Red Lobster operated more than 700 restaurants across the United States and Canada. The company now lists about 545 locations as it executes a restructuring plan under new ownership. Red Lobster has said it plans to permanently add popular Seafood Boils — combinations of crab legs, shrimp and clams — to the menu and is introducing seasonal cocktails to complement its fall offerings.

"We're starting a new chapter here at Red Lobster, one that's smarter, more sustainable and still packed with the unbeatable value and delicious flavors our guests have come to expect," Chief Executive Damola Adamolekun, 35, said in a statement announcing the menu and beverage changes. Adamolekun had earlier dismissed a return of the all‑you‑can‑eat Endless Shrimp promotion, quipping in November that he "knows how to do math." This relaunch represents a more conservative, price‑fixed approach to the chain's shrimp marketing.

The cocktail lineup includes three limited items: the Caramel Dream, made with Absolut Vodka, butterscotch, caramel and cream with a sea salt chocolate garnish; the Apple Harvest Punch, featuring Captain Morgan Spiced Rum with cranberry, lemon and apple juice, finished with an apple slice and cinnamon stick; and a Gold Rush, composed of Maker's Mark Bourbon, honey and a gold shimmer, garnished with fresh mint.

Red Lobster's management has framed the moves as part of a broader effort to restore profitability and customer trust after a tumultuous 2024. Industry filings and company projections attached to the restructuring plan indicate that, if the turnaround proceeds as planned, Red Lobster could reach a positive net income of about $2.1 million by 2026.

Analysts and company executives have cautioned that outcomes will depend on execution at individual restaurants, pricing in higher‑cost markets and broader consumer demand for casual‑dining seafood. For now, the chain is positioning a lower‑priced, fixed offering as a way to attract diners without repeating the unlimited‑consumption model the company says undermined its finances last year.