Red Lobster considering filing for bankruptcy, report says

CNN, KFSM – People wanting to get their money’s worth at Red Lobster may have done so at the expense of the restaurant itself.

The company is reportedly looking into filing for bankruptcy protection, according to reporting from Bloomberg.

There are several reasons for that, including the cost of its leases and labor, but the $11 million Red Lobster recently lost on its Endless Shrimp deal certainly hasn’t helped matters.

Sources say the chain hasn’t decided if it’s going to file chapter 11.

If it does, that’s the type of bankruptcy protection that allows business to continue operating while they restructure.