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re: At least 5 Baton Rouge restaurants approved for more than $1M in Restaurant Revitalization
Posted on 7/15/21 at 5:21 pm to Datfish
Posted on 7/15/21 at 5:21 pm to Datfish
quote:
So the chains get the most money???
Yes, I'm not sure if you've been paying much attention for the last 18 months but one of the goals here is to drive as many small businesses out of business as possible.
I serve a couple of very underprivileged schools systems, but can't get an EIDL loan because my office is in the wrong zip code
0
Posted on 7/15/21 at 5:49 pm to Hulkklogan
quote:
It means when given a choice of what restaurants to help out, the top two were big, shitty chains. I'm sure the local GMs are happy, but I'd rather have seen more of that money go to mom and pop shops.
Yeah man, frick those Louisiana employees! Pinettas should have gotten a few million instead of their 60k
If anything needs to be questioned on that it’s what earls did with that 880k
This post was edited on 7/15/21 at 5:53 pm
Posted on 7/15/21 at 5:51 pm to Deactived
quote:
Youre bitching about a company which was started here in BR, grew to be able to spread across the US pretty rapidly, and still chose to put its headquarters right smack next to the original location. Meanwhile the company is ran correctly and run by good people. Its also not 'shitty'
Not 100% sure, but pretty sure Walk Ons sold out to a Private Equity group that is massively expanding their footprint across the country
ETA: They did back in October 2020. I am fine with giving local shops money, but they sold out to a Private Equity firm out of Atlanta.
quote:
Private-equity firm 10 Point Capital has made a growth investment in Walk-Ons Sports Bistreaux, the companies announced Tuesday.
The Baton Rouge, La.-based casual-dining Walk-On’s, which has more than 40 units in nine states, said the investment by the Atlanta-based 10 Point Capital would enable the brand to add new locations. Terms of the deal were not disclosed.
LINK
This post was edited on 7/15/21 at 5:54 pm
Posted on 7/15/21 at 5:52 pm to Deactived
quote:
Youre bitching about a company which was started here in BR, grew to be able to spread across the US pretty rapidly, and still chose to put its headquarters right smack next to the original location. Meanwhile the company is ran correctly and run by good people. Its also not 'shitty'
Yes, I am. Because their food is mediocre at best, they are wildly successful already, and they have significant financial backing. Maybe they did suffer big losses, but they should be in a much better position to handle it and survive as a brand than a small place that delivers great food.
For me, it's just indicative of where the government's priority is when it comes to what restaurants they will prop up.
To the poster above, does Pinettas deserve a mil? Probably not, but how many businesses got none or less than they needed so that walk-ons could get 5mil and IHOP could get 2 mil?
Maybe none got skipped over and this is an overreaction, but the optics suck.
This post was edited on 7/15/21 at 5:55 pm
Posted on 7/15/21 at 5:55 pm to Hulkklogan
quote:
Because their food is mediocre at best, they are wildly successful already, and they have significant financial backing.
So they shouldn’t receive a sizable loan considering the size of their company?
Posted on 7/15/21 at 5:55 pm to Ed Osteen
quote:
If anything needs to be questioned on that it’s what earls did with that 880k
Was thinking the exact same thing
Posted on 7/15/21 at 5:56 pm to Ed Osteen
It's just another thing to play into the "BR is a chain city" stereotype, despite having a good amount of quality places to eat that aren't chains.
Posted on 7/15/21 at 5:57 pm to hubertcumberdale
I have no idea what the numbers should be but to be fair, bars were closed 100% the entire time and some still paid salaries. No idea of Earls is one of those.
Posted on 7/15/21 at 6:04 pm to LouisianaLady
The guys that run it are good people and I have no idea what a reasonable number would be for that either. I just wasn’t expecting to see them in the top ten for BR.
Posted on 7/15/21 at 6:05 pm to Ed Osteen
Walk Ons as a whole employs, what, 100s of people? How much do they spend on vendors? Charity work? Their importance to a community dwarfs most mom and pops. People cannot separate from themselves from the “rich” owners of these entities. That said, franchisor of a walk Ons is essentially a “mom and pop”. These people aren’t making millions
Mom and pops are just as entitled to their money as well. Truth is most don’t keep accurate books or have a competent CPA, which you need when filing. Those are the ones you see whining on Facebook about being screwed. No buddy, you didn’t get screwed, you’re too dumb to run a competent business
Mom and pops are just as entitled to their money as well. Truth is most don’t keep accurate books or have a competent CPA, which you need when filing. Those are the ones you see whining on Facebook about being screwed. No buddy, you didn’t get screwed, you’re too dumb to run a competent business
Posted on 7/15/21 at 6:56 pm to hubertcumberdale
quote:
Not 100% sure, but pretty sure Walk Ons sold out to a Private Equity group that is massively expanding their footprint across the country
ETA: They did back in October 2020. I am fine with giving local shops money, but they sold out to a Private Equity firm out of Atlanta.
'Selling out' to me is him completely selling his company to a firm and cashing out. Having a firm come in and bankroll an amount for you to expand even more is not selling out imo.
Posted on 7/15/21 at 6:58 pm to Hulkklogan
quote:
Yes, I am. Because their food is mediocre at best,
No its not. When is the last time you have eaten there? They completely revamped their menu years ago after realizing the food was subpar and they have drastically improved.
quote:
Maybe they did suffer big losses, but they should be in a much better position to handle it and survive as a brand than a small place that delivers great food.
Theres the whole oh theyre a big company they can handle millions of dollars in losses.
quote:
To the poster above, does Pinettas deserve a mil? Probably not, but how many businesses got none or less than they needed so that walk-ons could get 5mil and IHOP could get 2 mil?
Maybe none got skipped over and this is an overreaction, but the optics suck.
Oh so you have no idea about any of this and if anyone did get skipped over or not.
Frankly, youre talking out of your arse.
Posted on 7/15/21 at 7:20 pm to Deactived
quote:
No its not. When is the last time you have eaten there
I guess we'll have to agree to disagree. I ate there just before covid, Jan 2020. It's not terrible, it's just meh bar food. All deep fried or super greasy, slathered in cheese or sauce. Most people love that though, which is why they're so successful.
quote:
Frankly, youre talking out of your arse.
Now you're catching on!
I was simply making a joke (because the perception of BR is a chain restaurant town and this falls right in with that) and decided to argue for no good reason.
Posted on 7/15/21 at 8:24 pm to JimJack
Posted on 7/16/21 at 6:51 am to Deactived
quote:
'Selling out' to me is him completely selling his company to a firm and cashing out. Having a firm come in and bankroll an amount for you to expand even more is not selling out imo.
It didn’t disclose terms of the deal in the article but I’m willing to bet they’re not just providing walk ons with debt since they are a private equity company, they took equity in walk ons and controlling votes of the company in exchange for capital for expansion.
ETA: private equity typically acquires companies, improves their business/cash flow and exit (sell) after 5-10 years. They have no interest in the long term for a particular business other than how much they can sell it for it.
quote:
Walk-On’s, to make its goal of 150 new locations in 5 years, has a new strategic partner
LINK
This post was edited on 7/16/21 at 7:16 am
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