Thai Union
Coverage of Thai Union in the Nexus archive.
- Red Lobster lost millions on its endless shrimp disaster. Shareholders say it was a ‘car crash’ designed to squeeze profits
Red Lobster's $20 'Ultimate Endless Shrimp' promotion caused significant financial losses, with shareholders alleging Thai Union Group exploited its controlling stake to push the promotion permanently, leading to bankruptcy and lawsuits over $32 million in disputed transactions. The promotion, which became a regular offering in 2023, allegedly prioritized Thai Union's interests as the exclusive shrimp supplier, driving down customer spending per visit.
- Red Lobster creditors sue former owner Thai Union over endless shrimp promotion
Red Lobster creditors are suing Thai Union, their former owner, over an endless shrimp promotion. The lawsuit, filed in Florida, alleges that Thai Union used the promotion to extract value from the chain, with creditors owed approximately $295 million.