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re: Red Lobster lists 99 restaurants closures in 28 states
Posted on 5/22/24 at 5:56 pm to CaptainsWafer
Posted on 5/22/24 at 5:56 pm to CaptainsWafer
I think there goal is to separate out the dining business and the real estate. Drive the dining portion into the ground by being cheap and paying rent to the real estate side. Dining portion goes under. They still hold the valuable real estate.
They are doing the same thing with hosptials.
They are doing the same thing with hosptials.
3
Posted on 5/22/24 at 6:12 pm to GeauxTigers123
If you're right
Posted on 5/22/24 at 6:27 pm to GeauxTigers123
quote:Not what happened. They sold the real estate years ago.
I think there goal is to separate out the dining business and the real estate. Drive the dining portion into the ground by being cheap and paying rent to the real estate side. Dining portion goes under. They still hold the valuable real estate.
They are doing the same thing with hosptials.
Posted on 5/22/24 at 8:10 pm to GeauxTigers123
quote:
I think there goal is to separate out the dining business and the real estate. Drive the dining portion into the ground by being cheap and paying rent to the real estate side. Dining portion goes under. They still hold the valuable real estate.
Ah I see. Sold the land to another company owned by the Hedge Fund. Now they can shut down the restaurants but banks/creditors won’t be able to take the land during chapter 11.
They then sell prime real estate to a developer for a big profit
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