They’re not going under because of poor sales.

Damn Thai Union Group thinking libs wouldn’t eat them out of house and home for free shrimp

Your spreading fake news

“Red Lobster’s Demise Was Never About the Endless Shrimp
Blame private equity and a decade of mismanagement instead”

“… But again, it wasn’t because of the shrimp. Following the sale of Red Lobster to Golden Gate, the chain’s real estate assets were also sold off, which meant that the restaurants now had to pay rent on these locations to their parent company. As such, the company was stuck in leases for underperforming restaurants that it couldn’t afford. As with other private equity forays into industries like retail and media, Red Lobster’s new private equity owner saddled it with tons of debt...”

https://www.eater.com/24160929/red-lobster-bankruptcy-endless-shrimp-closing-locations

You think that is the ONLY reason they are shutting down?

No there were more issues that made it harder to be more profitable because of the nature of trying to be a “cheap” seafood restaurant that goes back to its Olive Garden family days.

Regardless the death knell for the business was from “vulture capitalism” that’s killed many a struggling but still profitable industry.

Isn’t that their job? Get every penny they can out of the deal, then move on to the next venture…

"Make no mistake, the only reason Red Lobster's going into bankruptcy is because a hedge fund wanted them to go into bankruptcy.

They wanted to put Red Lobster out of business so they could take the land that the Red Lobsters were on. Because Red Lobster has some amazing locations across the United States. And now the hedge fund is going to be able to sell off all the little pieces of Red Lobster, completely shutting them down and just have the land all to themselves.

And look, I don't like that hedge funds are allowed to do that. Investors are allowed to f*ck over another company. But what shouldn't be happening is the media being complicit and trying to hide that fact.

It's not just the hedge funds, it's not just the government, it's also the media.

Absolutely f*cking nobody is on our side. Absolutely nobody is giving us the true facts except for each other.”"

More akin to exploiting a loophole to intentionally sabotage a business for enrich themselves. Hence the nickname of “vulture capitalist” given to such people within the industry.

Regardless it wasn’t dying from a bad economy more it was “murdered” by its owners.

And as owners they have that right, don’t they? If o own something I can do with it as I please

That’s not what’s at issue here though.
The meme is about how red lobster didn’t die it was murdered.

Murdered, good business…same thing

They think biden is a god and can do no wrong when it comes to anything detrimental to the average American. Yes, the owners milked it for all it was worth, then leave the trash behind for others to clean up. At the same time, they would have gladly kept them running longer if bidenflation had not soured the landscape. Owners killed it, biden was an accomplice.

Right but it wasn’t the economy or “bidenomics”

You think the economy is great?

Never said that just pointing out that just pointing out that red lobster died from. A bad economy is fake news.

I think it’s only partially fake. If the holding company wanted to milk every penny and then shut it down, it would have happened shortly after they took control. I think the bad economy helped them get to that point

That’s just copium and ignores the entire acting practice of the “vulture capitalist” and the precedent set by the death of several other companies that died thanks to this type of private equity.

And you are welcome to blame it all on the owners if you wish. Had they saw that they could continue to milk that cow longer they would have. Seeing the rising prices of food, coupled with the lowering demand from people having to cut back on their dining budget due to inflation under biden, they figured out that it was time to pull the plug.

Oh ffs. There is literally an entire article stating exactly how red lobster was cannibalized by wallstreet not the government and you still blame Biden for something he didn’t play a part in.

Why did they wait 10 years after buying the company to extract the last penny
.

Thinking this economy has NOTHING to do with is just being an ostrich

Sellers like moving product off the shelf as quickly as possible, even if they're gonna buy more of the same goods to restock the next week - even if that's to be at a higher cost.

Not like Dead Lobster forgot to gouge prices on their food like the rest of the food industry has been and at far more than anyone else.
Americans throw away 40% of their food. And they're gonna do that and keep their big asses fat no matter how much it's gonna cost them. Otherwise, cut demand, and you cut the price of supply.

Basic Capitalism/Economics 101. The consumer has absolutely no one to blame for high prices but themselves. No one. Gluttonly ain't cheap.

…actual Patrick star and manta ray moment…

Cannibalized its assets,,,

Interesting news, thanks for the info

Honestly Colorado being so low is shocking. Good for them.

Must be all them more recent transplants.