"Sat for Hours Eating Shrimp Continuously"...The 26,000 Won Buffet CEO's 'Regret'

"Shrimp, Too Expensive to Offer Unlimited"
Millions Lost in Promotion
Red Lobster Filed for Bankruptcy Last May

Photo unrelated to the article. Source=Pixabay

The CEO of an American restaurant that gained attention for its unlimited shrimp offer event has expressed honest feelings, calling it "a big mistake."

Damola Adamorekun (35), CEO of Red Lobster, the largest seafood dining company in the U.S., said in an interview with CNN on the 4th (local time), "Red Lobster is one of the most important companies in American history," but also admitted, "We made a big mistake over the past few years." The core mistake he mentioned was Red Lobster's "unlimited shrimp promotion."

The event, launched last June to attract customers, allowed diners to pay only $20 (about 26,000 KRW) every Monday to choose one of two shrimp dishes and eat unlimited amounts. This sparked huge demand among consumers struggling with high inflation and became very popular. On the social media platform TikTok, a challenge boasting how many shrimp one could eat at Red Lobster at once also went viral. However, the promotion imposed a significant cost burden on the restaurant, causing millions of dollars in losses.

CEO Adamorekun explained, "Shrimp is too expensive a product to offer unlimitedly," adding, "Customers would sit for hours eating as many shrimp as possible. As a result, servers and kitchen staff inevitably experienced great stress." He also said, "Due to the low turnover rate, waiting customers could not be seated, causing chaotic situations," and stated, "We will end restaurant closures here and focus on growth going forward." He added, "We will improve the environment by replacing torn carpets and chairs at each location and reduce the number of menu items."

Meanwhile, Red Lobster, which opened in 1968, gained popularity as a restaurant where seafood could be enjoyed at affordable prices. It became part of the American food conglomerate General Mills in the early 1970s and spun off in 1995. Later, in 2016, Thai Union Group acquired 25% of Red Lobster's shares, becoming the largest shareholder, but sold all shares in January this year. With worsening profits, Red Lobster closed about 50 stores in May and ultimately filed for bankruptcy.