Analysts say endless shrimp promotion was not the reason Red Lobster filed for bankruptcy. The bigger culprit was the company investing in private equity.
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#RedLobster #PrivateEquity #Bankruptcy
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Macy’s, you’re next!
Robert Reichhhh is a Communist
Capitalism at its best. Don’t you just love it.❤❤❤❤
I saw a commercial real estate ad for a Red Lobster building that assured the tenant was long term. I was thinking why would in the world would a big company do this?
Boomer food ran by boomer ceo
Capitalism is killing America.
Government needs to step in and control this BS.
That’s all there good taking jobs and destroying people hard earned savings
Private Equity should be illegal
Exactly correct
So if got this . A firm purchased a company that is on decline. However they have valuable assets like real estate. So they sell the real estate, make more money that way than keeping the restaurant opened. Then file for bankruptcy and the law shields them from paying all those taxes? That’s a genius way to get out of a failing business.
Goldengate declined to comment. what a surprise!
Multiple acquisitions via private equity, FYI this just happened to hospitals in Massachusetts they did the same thing purchase the hospitals, took all the building and land to pay themselves back and then charge monthly leases to the hospitals who were struggling before this, now which higher lease cost they are all going bankrupt, some of these were community level this is a game plan to rob wealth from these companies and almost always leaves them bankrupt……
Its no longer a viable business. Whats the big story.
With high prices like $200 Million for rent, it’s no wonder little companies dealing with money want MORE of it to be on the same level as everyone else who’s rich. There’s a new quota in people, if your bank account is $1000 shorter you’re just not doing good enough.
Selling lobster shouldn’t be this hard. It’s greed, envy, comparison in colleagues that let their place of business get to their head and later feel like they deserve just as much as you if not more. Now nobody gets paid.
AMC is on the brink of bankruptcy thanks to private equity and insider AA
They already have another company the investors are shorting… can u guess? Let's look at Cracker Barrell
When you know the company is not stable and it shows in the news everywhere, don't wait!!!! Go looking for another job!!! Don't Wait!!!
35 hours for 2 days????
When executives want bigger golden parachutes, workers and consumers lose. Corporate-personhood disenfranchises voters, who happen to be actual human beings.
21 Pennsylvania elder care facilities bought by a Private equity firm filed for bankruptcy in past two weeks . 12 facilities in the Pittsburgh area .
Private equity destroys their employees jobs and yet makes themselves billions. They squeeze the business for everything its worth and then let it go bankrupt. Why is our government not getting involved? This is one of the shadiest practices out there, right up with corporate government bailouts of companies who destroyed our economy through gambling on the home loan crisis and hospital/health insurance price fixing and denials of claims.
How come I missed out on the endless shrimp. Oh my!
They hired a new CEO back in March. His expertise is bankruptcy. Pay attention to what is going at your work and industry. Stop being a victim and take control!
Now you know why the Chinese government vanished lots of billionaires in the last couple of years. There nobody out power the holy government 😜😳
I’m looking forward to the Red Lobster documentary.
Most people don’t understand private equity companies. They’re essentially vultures who pump up the apparent value of companies then sell it.
I like that their are two reasons for Red Lobster's failure. The second reason is financial and logically explained by numbers while the original reason is clickbait BS about people eating too much and somehow not being able to control it.
My neighbors father literally invented Private Equity awhile back. Now his son runs a PE firm in Boston. Nice guy though.
The company was bought out by private equity and milk for every dime.
Bidenomics
private equity does this to everything. i understand the business behind this buuuuut its detsroying our home availability to the truccing industry. it become about the share holders and not the companies or its employees. the group together multiple business's and run them as one. sooo if one fails it doesnt really affect tha over all numbers or share holders
Usually Private Equity firms are on the lookout for businesses with low levels of debt and valuable physical assets that they can end up owning/controlling via an LBO (Leveraged Buyout) by promising the top management and ownership a lucrative amount to convince them to sell, then taking on a lot of debt to fund the purchase of their business (some of those proceeds go to payoff the current management), and finally stripping the business of its key assets and transferring the debt to the business.
These firms want to end up secretly owning everything while leaving governments and people in debt.
Hi here is an idea, I don't know if private equity is good. But I love Red Lobster. I'd much rather have red lobster than private equity. So maybe we should make it right and make it better for cheddar bay biscuits lovers.
With the current climate of politics, and the senate about to regain its Republican control, I see this legislation dying as soon as it gets there. Let’s face it, corporate greed is great at lobbying at their needs. If they just put a million dollar funding into congress there will be no changes towards the crisis we are facing today.
I think it’s the new clientele
Ultra wealthy suit and ties are the problem now. Sell off everything for the corporate board and their suit and tie buddies. Greed is ruining everything.
Biden and deep state supporters.
This happens many times when private equity funds come in. They load on debt and pull out the money, leaving a shell which is unable to sustain operations. By the time things collapse, they have removed their investment and everyone left looses. It is deliberate pursuit of short term returns instead of sustained operations.