claytoncubitt,
@claytoncubitt@mstdn.social avatar

We were told it was our voracious greed for endless shrimp that killed Red Lobster, but it turns out it was actually... drumroll... private equity douchebags. (Again)
https://www.businessinsider.com/red-lobster-endless-shrimp-bankruptcy-private-equity-debt-real-estate-2024-5

jwz,
@jwz@mastodon.social avatar

@claytoncubitt This story never passed even the most basic sniff test. If I were a 2.1 billion dollar restaurant chain and I was losing a lot of money on one of my promotions I would give strong consideration to ending that promotion some time between "Friday" and "filing for bankruptcy".

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