Red Lobster’s collapse signals the end of fast-casual dining putting other chains at risk, expert says

Red Lobster’s collapse signals the end of the “martini lunch,” as consumers ditch fast-casual dining for quicker or luxury options, an industry expert warned

It was recently announced the troubled seafood restaurant chain will be closing at least 48 of its roughly 650 branches across the US.

Rumors of bankruptcy filings have come following financial damage done by a $20 “endless shrimp” promotion that proved unexpectedly popular with customers, and reportedly cost Red Lobster millions of dollars last year.