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<blockquote style="position: relative; padding-left: 55px;"><section><a href="https://newsie.social/users/toussaint/statuses/112475036391045531">toussaint (toussaint@newsie.social)'s status on Tuesday, 21-May-2024 05:23:56 JST</a><a href="https://newsie.social/@toussaint" title="toussaint@newsie.social"><img src="https://gnusocial.jp/avatar/84426-48-20230103154757.webp" width="48" height="48" alt="toussaint" style="position: absolute; left: 0; top: 0;">toussaint</a></section><article><p>More Perfect Union:<br>Red Lobster had $2.3B in sales in 2021. Now it's filing for bankruptcy. Some blame endless shrimp, but the truth is simpler: private equity<br>Golden Gate Capital, a private equity firm, bought them in 2014. </p><p>To finance this deal, Golden Gate sold off Red Lobster's real estate to another entity —American Realty Capital Properties — and then immediately leased the restaurants back.<br>Suddenly, restaurants had extra rent expenses...<br><a href="https://newsie.social/tags/CapitalismIsKillingYou" rel="tag">#CapitalismIsKillingYou</a> <br><a href="https://www.businessinsider.com/red-lobster-endless-shrimp-bankruptcy-private-equity-debt-real-estate-2024-5" rel="nofollow noreferrer">https://www.businessinsider.com/red-lobster-endless-shrimp-bankruptcy-private-equity-debt-real-estate-2024-5</a></p></article><footer><a rel="bookmark" href="https://gnusocial.jp/conversation/3117981#notice-6176613">In conversation</a><time datetime="2024-05-21T05:23:56+09:00" title="Tuesday, 21-May-2024 05:23:56 JST">about 6 months ago</time> <span>from <span><a href="https://newsie.social/@toussaint/112475036391045531" rel="external" title="Sent from newsie.social via ActivityPub">newsie.social</a></span></span><a href="https://newsie.social/@toussaint/112475036391045531">permalink</a><h4>Attachments</h4><ol><li><article><header><div>Domain not in remote thumbnail source whitelist: i.insider.com</div><h5><a href="https://www.businessinsider.com/red-lobster-endless-shrimp-bankruptcy-private-equity-debt-real-estate-2024-5">The demise of Red Lobster is a perfect case study in how to kill a business</a></h5><div> from <span>Emily Stewart</span></div></header><div>Red Lobster may be headed toward bankruptcy, but its business problems go far beyond all-you-can-eat shrimp.</div><footer></footer></article></li></ol></footer></blockquote>

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toussaint (toussaint@newsie.social)'s status on Tuesday, 21-May-2024 05:23:56 JST toussaint
More Perfect Union:
Red Lobster had $2.3B in sales in 2021. Now it's filing for bankruptcy. Some blame endless shrimp, but the truth is simpler: private equity
Golden Gate Capital, a private equity firm, bought them in 2014.
To finance this deal, Golden Gate sold off Red Lobster's real estate to another entity —American Realty Capital Properties — and then immediately leased the restaurants back.
Suddenly, restaurants had extra rent expenses...
#CapitalismIsKillingYou
https://www.businessinsider.com/red-lobster-endless-shrimp-bankruptcy-private-equity-debt-real-estate-2024-5
In conversationabout 6 months ago from newsie.socialpermalink
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1. Domain not in remote thumbnail source whitelist: i.insider.com
  The demise of Red Lobster is a perfect case study in how to kill a business
  from Emily Stewart
  Red Lobster may be headed toward bankruptcy, but its business problems go far beyond all-you-can-eat shrimp.

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