Yup. It was never the shrimp, it was the fact that the hedge fund was stripping the entire biz. They sold all the property to themselves and had each restaurant rent out the space. Hedge fund made a profit on their purchase just in time to close down all restaurants. There probably is something like that going on here.
This might be true but I also feel like it’s a page from the Red Lobster marketing playbook:
“Oh no, this unlimited shrimp deal is too good!!!1! It’s bankrupting the company!! Oh no, don’t come eat our shrimp!!”
Repeat in a few months, etc.
Yup. It was never the shrimp, it was the fact that the hedge fund was stripping the entire biz. They sold all the property to themselves and had each restaurant rent out the space. Hedge fund made a profit on their purchase just in time to close down all restaurants. There probably is something like that going on here.
I think RL also had to purchase the shrimp from the parent company for unfavorable prices.