Red Lobster.Photo:Luke Sharrett/Bloomberg/Getty

Red Lobster Is Considering Bankruptcy Partly Due to $11 Million Loss from Endless Shrimp Deal

Luke Sharrett/Bloomberg/Getty

Red Lobstercustomers could get a bit more bang for their buck next time they dine at the restaurant — but only during certain hours.The fast-casual seafood spot is rolling out happy hour menus nationwide starting on Monday, Dec. 2, and it includes some value-packed options.Monday through Friday from 3 p.m. to 6 p.m., guests can score $5 drinks and $2 off select appetizers. Cocktails — like margaritas and “top-shelf” Long Island Iced Teas — draft beer and glasses of wine are eligible for the Happy Hour deal.Starters such as lobster flatbread, crab queso and mozzarella sticks are included among the items discounted in the new promotion.Red Lobster has had an eventful year after filing for bankruptcy in May. Since then, the Orlando-based company hasclosed over 100 restaurants. However, as of September, the chain announced that it is close to exiting bankruptcy, per apress release.Flavor Flavbecame an unlikely hero in Red Lobster’s resurgence.Never miss a story — sign up forPEOPLE’s free daily newsletterto stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.On June 3, the rapper revealed onX(formerly Twitter) that he had visited a Red Lobster location and made a huge purchase. He shared a photo of himself and two tables full of food — everything from chips and calamari to the chain’s titular crustacean.Flavor Flav’s Instagram Stories.Flavor Flav/InstagramFlavor Flav wrote that he “ordered the whole menu” and shared the food with his family: “Ya boy meant it when I said I was gonna do anything and everything to help @redlobster and save the cheddar bay biscuits.”Later this summer,Flavor Flav’s Faves, a special off-menu meal, was brought to Red Lobster locations nationwide.Flavor Flav’s efforts seemed to help the case. On Sept. 5, apress release from Red Lobsterreported that the restaurant chain received the court’s approval of its Chapter 11 plan, which means that Red Lobster will be acquired and exit bankruptcy status.

Red Lobstercustomers could get a bit more bang for their buck next time they dine at the restaurant — but only during certain hours.

The fast-casual seafood spot is rolling out happy hour menus nationwide starting on Monday, Dec. 2, and it includes some value-packed options.

Monday through Friday from 3 p.m. to 6 p.m., guests can score $5 drinks and $2 off select appetizers. Cocktails — like margaritas and “top-shelf” Long Island Iced Teas — draft beer and glasses of wine are eligible for the Happy Hour deal.

Starters such as lobster flatbread, crab queso and mozzarella sticks are included among the items discounted in the new promotion.

Red Lobster has had an eventful year after filing for bankruptcy in May. Since then, the Orlando-based company hasclosed over 100 restaurants. However, as of September, the chain announced that it is close to exiting bankruptcy, per apress release.

Flavor Flavbecame an unlikely hero in Red Lobster’s resurgence.

Never miss a story — sign up forPEOPLE’s free daily newsletterto stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.

On June 3, the rapper revealed onX(formerly Twitter) that he had visited a Red Lobster location and made a huge purchase. He shared a photo of himself and two tables full of food — everything from chips and calamari to the chain’s titular crustacean.

Flavor Flav’s Instagram Stories.Flavor Flav/Instagram

Flavor Flav’s Instagram Stories

Flavor Flav/Instagram

Flavor Flav wrote that he “ordered the whole menu” and shared the food with his family: “Ya boy meant it when I said I was gonna do anything and everything to help @redlobster and save the cheddar bay biscuits.”

Later this summer,Flavor Flav’s Faves, a special off-menu meal, was brought to Red Lobster locations nationwide.

Flavor Flav’s efforts seemed to help the case. On Sept. 5, apress release from Red Lobsterreported that the restaurant chain received the court’s approval of its Chapter 11 plan, which means that Red Lobster will be acquired and exit bankruptcy status.

source: people.com