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Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
Posted on 7/9/19 at 3:57 pm
Posted on 7/9/19 at 3:57 pm
No way anyone could have seen THIS coming. 
townhall
quote:
Bloomberg News reports that Resturaunts Unlimited, Inc. "which operates 35 restaurants ranging from fine dining to “polished casual” eateries, including Henry’s Tavern, Stanford’s and Kincaid’s, filed for Chapter 11 protection in Delaware on Sunday."
Chief Restructuring Officer David Bagley directly blamed "progressive wage laws" for the move.
"Over the past three years, the company’s profitability has been significantly impacted by progressive wage laws along the Pacific coast that have increased the minimum wage," Bagley said. "As a large employer in the Seattle metro market, for instance, the company was one of the first in the market to be forced to institute wage hikes."
townhall
24
Posted on 7/9/19 at 3:58 pm to L.A.
Dems - “that is their fault”
Posted on 7/9/19 at 3:59 pm to L.A.
A progressive disease..
Posted on 7/9/19 at 4:01 pm to L.A.
quote:
No way anyone could have seen THIS coming.
Posted on 7/9/19 at 4:05 pm to L.A.
shocking...
Posted on 7/9/19 at 4:05 pm to L.A.
That'll teach those evil capitalists for trying to make a profit off the backs of the worker's party
Posted on 7/9/19 at 4:06 pm to L.A.
Probably crap food did them in. People will excuse politics, blasphemy, racial hatred, even LSU fan ownership if the food is good enough.
Posted on 7/9/19 at 4:11 pm to L.A.
Dems: hey, we DID build that!!
Posted on 7/9/19 at 4:18 pm to L.A.
I tried to explain to a lib how a 15.00 MW would cost me 250,000 per year becausae of what you have to do for the 12.00, 14.00, and 16.00 per hour employees.
My 15.00/hr operator makes 5.00 more than my entry level guy for a reason. I'd have to bump everyone up accordingly. I'd also go out of business unless I layoff many and raise my rates.
Shocker they didn't understand.
Oh, and you can forget me ever hiring someone with no experience again.
My 15.00/hr operator makes 5.00 more than my entry level guy for a reason. I'd have to bump everyone up accordingly. I'd also go out of business unless I layoff many and raise my rates.
Shocker they didn't understand.
Oh, and you can forget me ever hiring someone with no experience again.
Posted on 7/9/19 at 4:20 pm to L.A.
Democrats: "If you can't afford to pay your employees a living wage you don't deserve to be in business"
Also Democrats: "Support your local businesses, frick corporations, frick places like Wal Mart"
Also Democrats: "Support your local businesses, frick corporations, frick places like Wal Mart"
Posted on 7/9/19 at 4:21 pm to L.A.
quote:
Bloomberg News reports that Resturaunts Unlimited, Inc. "which operates 35 restaurants ranging from fine dining to “polished casual” eateries, including Henry’s Tavern, Stanford’s and Kincaid’s, filed for Chapter 11 protection in Delaware on Sunday."
Is that related to the one that is in Redondo Beach by chance?
Posted on 7/9/19 at 4:24 pm to L.A.
quote:
Chapter 11 protection in Delaware
quote:
progressive wage laws along the Pacific coast
I understand they may be a Delaware corp for tax purposes, but on the chance that they have eastern seaboard restaurants, the solution is to get out of the Pacific coast region.
Posted on 7/9/19 at 4:27 pm to L.A.
Dems will say, "Learn to code."
Posted on 7/9/19 at 4:38 pm to L.A.
quote:
Henry’s Tavern, Stanford’s and Kincaid’s,
Never heard of them......maybe the food sucked or the concept is dated
Posted on 7/9/19 at 4:56 pm to L.A.
I used to work for them in the 90s at 2 of their locations in seattle. they always paid fair market value for their jobs. they always treated the staff well.
ETA their food has always been good. they have high standards for quality and a full test kitchen that is always developing new recipies to keep up with the times.
ETA their food has always been good. they have high standards for quality and a full test kitchen that is always developing new recipies to keep up with the times.
This post was edited on 7/9/19 at 4:59 pm
Posted on 7/9/19 at 5:30 pm to L.A.
well its time for a single employer system where everyone works for the gubment owned mcdonalds and hardies restaurants
Posted on 7/9/19 at 6:19 pm to L.A.
Right.
So those thousands of others who didn’t go out of business are just lucky.
Convenient excuse for poorly run company.
So those thousands of others who didn’t go out of business are just lucky.
Convenient excuse for poorly run company.
Posted on 7/9/19 at 6:25 pm to L.A.
quote:
Chief Restructuring Officer David Bagley directly blamed "progressive wage laws" for the move.
Yeah well if this greedy piece of shite white male would’ve put the well being of his employees over making obscene profit for himself everything would be okay.
Posted on 7/9/19 at 6:57 pm to L.A.
quote:
No way anyone could have seen THIS coming. quote:Bloomberg News reports that Resturaunts Unlimited, Inc. "which operates 35 restaurants ranging from fine dining to “polished casual” eateries, including Henry’s Tavern, Stanford’s and Kincaid’s, filed for Chapter 11 protection in Delaware on Sunday." Chief Restructuring Officer David Bagley directly blamed "progressive wage laws" for the move. "Over the past three years, the company’s profitability has been significantly impacted by progressive wage laws along the Pacific coast that have increased the minimum wage," Bagley said. "As a large employer in the Seattle metro market, for instance, the company was one of the first in the market to be forced to institute wage hikes."
So the company wasn't viable when it was forced to foot the actual costs of its production out of its end and wasn't allowed to rest on the taxpayer to subsidize its workforce. That'll happen when all of a sudden you are expected to actually be self reliant instead of merely claiming to be....
Posted on 7/9/19 at 7:27 pm to L.A.
Why not share the full story?
The articles on this matter also point to multiple openings that failed recently, not because of wage law but because the concept didn't work.
The articles also mention the shrinking market for this type of food service.
There is a general trend away from this type of casual dining.
The articles on this matter also point to multiple openings that failed recently, not because of wage law but because the concept didn't work.
The articles also mention the shrinking market for this type of food service.
There is a general trend away from this type of casual dining.
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