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L.A.
New Orleans Saints Fan
Los Angeles
Member since Aug 2003
53577 posts

Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
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."

townhall


BeeFense5
Chicago Cubs Fan
Kenner
Member since Jul 2010
36039 posts
 Online 

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
Dems - “that is their fault”


Hogs78
Arkansas Fan
Arkansas
Member since Feb 2019
963 posts

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
A progressive disease..


DemonKA3268
LSU Fan
Parts Unknown
Member since Oct 2015
12270 posts
 Online 

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability


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191
Crimson1st
Alabama Fan
Birmingham, AL
Member since Nov 2010
9739 posts

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
quote:

A progressive disease..


A disease which certainly is progressive!


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09
udtiger
LSU Fan
Louisiana
Member since Nov 2006
68853 posts
 Online 

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
shocking...


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11
upgrayedd
Lamar Fan
Lifting at Tobin's house
Member since Mar 2013
108254 posts
 Online 

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
That'll teach those evil capitalists for trying to make a profit off the backs of the worker's party


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370
jimdog
columbus, ga
Member since Dec 2012
6468 posts

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
Probably crap food did them in. People will excuse politics, blasphemy, racial hatred, even LSU fan ownership if the food is good enough.


BuckyCheese
Wisconsin Fan
Member since Jan 2015
16668 posts

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
quote:

People will excuse politics, blasphemy, racial hatred, even LSU fan ownership if the food is good enough.


I note you ignored the problem here.


JPinLondon
LSU Fan
not in London
Member since Nov 2006
6374 posts

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
Dems: hey, we DID build that!!


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50
jimdog
columbus, ga
Member since Dec 2012
6468 posts

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
You talking 'bout an extra two or three bucks on the tab? LOL! Times are good right now and people are eating out hell or high water. The people hurt will be the marginal one whose food quality is not there.
This post was edited on 7/9 at 4:23 pm


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244
TupeloTiger
LSU Fan
Tupelo,Ms.[via Bastrop,La.]
Member since Jul 2004
4293 posts

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
I was managing a Deli/Store last time the Democrats raised the minimum wage and the owners ordered me to cut the number of employees from 25 to 22 due to new higher wages. The Dem's got 3 workers fired, two were Black. The Gov't and Democrats hurt the poor and middle class.


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422
USA Dan
Alabama Fan
Spanish Fort, AL
Member since Jul 2015
692 posts

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
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.


airlinehwypanhandler
LSU Fan
Airline Highway
Member since Feb 2019
2130 posts

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
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"


Powerman
LSU Fan
Durham, NC
Member since Jan 2004
146042 posts

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
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?


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00
TheHarahanian
LSU Fan
Duh
Member since May 2017
12479 posts

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
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.


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23
LSURussian
LSU Fan
9 acres of paradise in Baton Rouge
Member since Feb 2005
121345 posts
 Online 

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
Dems will say, "Learn to code."


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61
Weekend Warrior79
LSU Fan
Member since Aug 2014
5404 posts

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
quote:

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: "Look at the jobs people are losing in Trump's economy"


14&Counting
Hawaii Fan
Manhattan Beach, CA
Member since Jul 2012
23948 posts
 Online 

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
quote:

Henry’s Tavern, Stanford’s and Kincaid’s,


Never heard of them......maybe the food sucked or the concept is dated


BlackHelicopterPilot
LSU Fan
Top secret lab
Member since Feb 2004
50044 posts
 Online 

re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
quote:

Never heard of them......maybe the food sucked or the concept is dated



Yep..started sucking and became dated at the same time that minimum wages were raised.


That seems likely. Occam's Sledgehammer?


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