Brian Tatosky on Nostr: It's fun to blame Red Lobster going down because of all you can eat shrimp, but no ...

It's fun to blame Red Lobster going down because of all you can eat shrimp, but no one really emphasizes this bit:

"A private equity firm bought the chain ten years ago from Darden Restaurants.... The firm, Golden Gate Capital, funded the deal partly by selling Red Lobster's real estate.

That meant the chain had to start paying rent. That's now a major financial factor in Red Lobster's bankruptcy filing"

VC again leaving a trail of destruction behind them

#Capitalism #Finance