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They are blaming "endless shrimp" for the recent bankruptcy, but really it was more private equity selling off their assets and making them rent it back: https
by randycupertino 6mo ago
They are blaming "endless shrimp" for the recent bankruptcy, but really it was more private equity selling off their assets and making them rent it back:
https://www.nbcnews.com/business/consumer/private-equity-rolled-red-lobster-rcna153397 https://www.nbcnews.com/business/consumer/private-equity-rol...
> When a private-equity firm bought the iconic seafood chain in 2014, it sold the real estate under the restaurants for $1.5 billion. Then the restaurants struggled to pay the rents.
- cratermoon 6mo agoI wonder how much Golden Gate, or the people running it, had invested in the real estate company that got the properties at below market value. I would not be shocked at all to learn some self-dealing was happening.