LogFAQs > #980517557

Count_Drachma posted...

No, they're closing because they got bought by a vulture capitalist firm who bought them with a LBO, gutted them, wrecked their value, and then sold the company to a group who, even if they were capable, had no hope of turning it around. Instead, the new group acted as the supplier, selling products at a mark-up.

I think it's just how bankruptcy filings work. There's a chance even the managers weren't involved, it was the DMs or corporate chaining them up.

Yeah Ive seen the new updates. Its actually worse than that. Red Lobster used to own most of its buildings and the properties for the restaurants. The Venture Capitalists sold all the real estate, and then made the restaurants pay above market value for rent.

Venture capitalists fuck shit up for short term gains once again.