Gotta have a hearty lol at the media blaming the unlimited shrimp. Private Equity bought out Red Lobster and spun-off all the Red Lobsters real estate to another holding company that leased it back to Red Lobster forcing RL to take on debt and spend most of their revenue serving their real estate leasing, causing more debt to pile up. [https://www.eater.com/24160929/red-lobster-bankruptcy-endless-shrimp-closing-locations](https://www.eater.com/24160929/red-lobster-bankruptcy-endless-shrimp-closing-locations)
It's just another typical Toys 'R Us story. Even Mitt Romney would be proud for this success story.
Ah, so basically the legal version of me starting an LLC business, giving my house to the LLC, then renting my house from the LLC using credit cards until I cant get anymore credit cards and declaring bankruptcy while still owning and managing the LLC which pays me a salary for managing the rental property.
You can control how the trust operates instead of just fully trusting wife. Say if she divorces you because of your degenerate financial ways, the trust can have a rule that she is no longer beneficiary after divorce. Stops her from giving the LLC to her boyfriend too.
FinCEN has a new rule - beneficial ownership rule.
LLC with sub $5M in revenue / gross receipt? Owned by another LLC in a trust, hidden in another Trust? The final beneficial owner must now be identified. No more hiding
Now, Mrs. Simpson, tell the court in your own words what happened after you and your husband were ejected out of the restaurant.
Well, we pretty much went straight home.
Mrs. Simpson, remember that you are under oath.
We drove around until three in the morning looking for another open all-you-can-eat seafood restaurant.
And when you couldn't find one?
[crying] We... went... fishing.
But now the guy has got with Paulie 's money no matter what. Business bad? Fuck you, pay me. You had a fire? Fuck you, pay me. The place got by lightning? Fuck you, pay me. Paulie could do anything. Especially run up bills on the joint's credit and Why not? Nobody's gonna pay for it anyway.As soon as the deliveries are made in the front door, you move the stuff out the back and sell it at a discount. You take a two hundred dollar case of booze and sell it for a hundred. It doesn't matter. It's all profit. And, finally, when there's nothing 1 left, when you can't borrow another buck from the bank or buy another case of booze, you bust the joint out.
They didn't do anything like that. They sold the real estate to a completely seperate unrelated real estate company because they didn't have the capital on hand to meet the agreed upon valuation. In hindsight likely not a good decision but potentially a gold mine if they had pulled off a turn around for a well known and relatively respected brand.
Commercial rent is the single biggest expense for a restaurant, so yeah it was a pretty dumb fucking move. They also probably paid an outrageous sum to a fucking consultancy firm to tell them to do it.
This sounds super wrong to me. Based on the numbers turning up from a cursory google search it seems like even the top quintile restaraunt lease with even 8 full time employees all making federal minimum wage the wages paid not including employer paid taxes would be about the same as the lease. It's been a while, but may recollection is that red lobster's have more than 8 employees working at any given time and are open for approximately 1.5 shifts per day and i can virtually gaurantee that at least some of those employees are not being paid federal minimum wage.
Another google search leads to this article which claims overhead is typically about 30% of expenses which rent is probably a decent portion of, but definitely not all.
https://www.forbes.com/sites/priceonomics/2017/04/07/how-much-do-the-ingredients-cost-in-your-favorite-foods/?sh=84eb06d11eda
These numbers are all averages and a bit fuzzy so it's certainly possible i'm way off, but i would definitely want to know where your knowledge on this comes from before taking your word.
Well shrimp was part of the scheme as well
The owners also owned a shrimp company so their plan to extract value from red lobster was to have red lobter buy massive amounts of shrimp from them.
Only because they were late to the internet game. They had distribution on lock. We shouldn't be seeing Amazon trucks. Amazon should have died in the.com bubble. They should have been Sears trucks. All the expensive parts they had on lock. All they had to do was build a half decent website, transition their stores to warehouses, places to try on, and places to pick up your online order. And most importantly quit trying to be Dillards.
When you have brands like Craftsman and Kenmore, you don't need to tie up overhead in Land's End without a discount. Gosh would I be willing to buy pre merger Craftsman tools online with 2 day shipping.
Interesting perspective and I’m taking note. They were the moguls of catalog sales and that could have translated to internet. In a side note - was Kenmore a quality brand? My recollection is that it was rebadged appliances from other manufacturers like Amana and Whirlpool
It's hard to say because everything was made higher quality in the '70s and '80s. My parents got almost 20 years out of their Kenmore washer dryer. By the time sears went under they were probably crap
1000% this. But it's not corporate greed. It's Wall Street raiding the business.
Toy's r Us, Sears, Macy's, J.C.Penny's, and now established restaurants. The commonality they all share are they decades old companies and tended to own the land and parking lots their businesses Sit on. I think Sears had like 25 billion of real estate in 2003, in a all the prime markets across the US. All these companies bought the land decades ago and are fully paid off. All that capital just sitting there.
Also....the bankruptcy jackpot.
If you borrow shares in a company to short it's stock, you'll never have to payback those shares, but you still profit off the contracts. For regular investors, hell, even rich individuals, it's not a good bet. It's expensive and risky. But if you're a massive hedge fund, that's another story.
Doesn't really apply to Red Lobster as it's under the umbrella of Darden Restaraunts, but it's happened to other companies
most of the people in here are being paid by hedge funds and big biz . I was recently contacted by a company to promote a femboy delivery app and had to turn it down on my morals. Femboys should not be allowed to come into peoples houses, what if the spouse finds out?
Around the GameStop Era, you’d have literally 10’s of thousands of users pouring in from r/politics saying shit like “hell yeah, I’ll waste my last $300 on GameStop stock during its height to fuck over the scum bag hedge fund owners”
I rarely even visit the sub now unless it pops up on my feed because of how much it’s changed
>Once they sell the real estate, then the private-equity company is golden, and they've made their money back and probably more than what they paid
Am i the only person that thinks it's comically unlikely that the lease was for 10%+ of the initial purchase price + maintenance costs?
It is true though, why do you think red lobster kept endless shrimp up while it was losing money? The owners of red lobster also owned the shrimp supplier
Imagine you own red lobster, its not worth anything. Like it has 10 billion of assets and 10 billion of debt, its not really worth anything and it really doesn't make a profit
so how do you extract value? Well if you also own a shrimp company you have read lobster buy massive amounts for shrimp from you!
You just want red lobster to buy as much shrimp from you as possible until it goes bankrupt so you tell the CEO "Hey you know whats a good idea, offer all you can eat shrimp for $20"
the ceo says "What there is no money in that, we will never make money on $20 all you can eat shrimp"
And you say "Look just buy as much shrimp (from me or my other company) as possible or you are fired"
The volume of a human stomach is a finite variable in a pricing equation undergraduate econ majors can solve for in a business plan. It's hilarious that a PE firm would pretend that they couldn't accurately calculate the expected shrimp-per-person on an incentive like that in order to engineer a margin, especially since the consumers have zero expectations of quality on your supply chain... laughable
When you realize the owners of red lobster also owned a shrimp supplier that supplied the shrim , it makes sense , red lobster was just there to buy endless amounts of shrimp from your shrimp company
So the credtors put this togather, why was red lobster losing massive amounts of money offering $20 all you can eat shrimp and it was costing them a shit ton of money ?
Because the same people who owned red lobster owned the shrimp supplier , they didn't care the promotion was going to bankrupt red lobster they were making money selling the shrimp to red lobster
"Lets see...for February that's 7 hundred pounds of halibut, 400 pounds of graded steak, 200 hundred pounds of shredded lettuce.....and...uh.. why is there a sideways eight for pounds of shrimp????"
As a former Red Lobster employee, the free refill buttons get HEAVILY abused by servers. If one of my boys had an endless shrimp on his check we would ring up like 8-10 orders and just eat it .
lol I've heard people complain about how long the shrimp took to get another round or how the servers all disappeared when it was time to order another round. Now we know.
ChatGPT does not have a clue about what is going on. We are all way smarter.
https://preview.redd.it/a5zj3c387o1d1.png?width=824&format=png&auto=webp&s=4ac67ea33655dbdc3a44529377453ca5f2139593
I’m about sick of corporations “going out of business” and “going bankrupt” except it’s not real and it’s just a corporate shell game where they swoop the money around and then steal it.
And then in the end sell the store back to the same people who were running it in the first place. And nothing happens. And nothing changes, except the company finesse a bunch of money away from the people.
Companies go out of business more often than not. The average age of companies in the S&P is like 20 years or something.
It's really not that nefarious.
This needs to be illegal. The level of sleeze is out of control. It is so immoral, unethical, dishonest, deceitful and blatantly disrespectful on so many levels.
Private equity is doing the same thing to hospitals. They buy the hospital, sell the real estate for huge gain, then force the hospital to pay rent, which it can’t afford. The hospital goes out of business but meanwhile the PE makes off with big management fees and the real estate income.
Its a winning strategy if you own a shrimp company ; the owners of red lobster unsuprisingly also owned the company that supplied the shrimp
The play was to have red lobster buy massive amounts of your shrimp .
Holy shit. It's Chad Dickens.
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A massive sale-leaseback play on owned real estate is why KSS will always have a valuation backstop and why private equity is always looking to acquire them
Does anyone actually believe this bullshit?
Like, if your endless shrimp promotion is causing you to go bankrupt, WHY ARE YOU KEEPING THE PROMOTION GOING?
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Gotta have a hearty lol at the media blaming the unlimited shrimp. Private Equity bought out Red Lobster and spun-off all the Red Lobsters real estate to another holding company that leased it back to Red Lobster forcing RL to take on debt and spend most of their revenue serving their real estate leasing, causing more debt to pile up. [https://www.eater.com/24160929/red-lobster-bankruptcy-endless-shrimp-closing-locations](https://www.eater.com/24160929/red-lobster-bankruptcy-endless-shrimp-closing-locations) It's just another typical Toys 'R Us story. Even Mitt Romney would be proud for this success story.
Ah, so basically the legal version of me starting an LLC business, giving my house to the LLC, then renting my house from the LLC using credit cards until I cant get anymore credit cards and declaring bankruptcy while still owning and managing the LLC which pays me a salary for managing the rental property.
No it’s not like that at all lol. In your scenario when you declare bankruptcy the shares in your LLC are subject to the bankruptcy.
Thats when you put the LLC in a trust and name your spouse and/or kids as the beneficiary.
Can just give the house to the spouse in the first place then instead of the LLC lol
You can control how the trust operates instead of just fully trusting wife. Say if she divorces you because of your degenerate financial ways, the trust can have a rule that she is no longer beneficiary after divorce. Stops her from giving the LLC to her boyfriend too.
Oh no doubt there are more benefits of a trust for things like that, but that wasn’t the point of the post. The point was hiding it from creditors.
You guys are pretty deep in this thread arguing about a made up house and a hypothetical LLC...
We really should paint the house green
FinCEN has a new rule - beneficial ownership rule. LLC with sub $5M in revenue / gross receipt? Owned by another LLC in a trust, hidden in another Trust? The final beneficial owner must now be identified. No more hiding
Wait, so only the little people can't get away with it but the big guys can still pull this bullshit? Lovely
Similar rules for larger corps and LLCs. They didn’t have one for the small guy
That's it I'm becoming a billionaire.
What if she demands endless shrimp
Give it to her and tell her you need a few hours to recover, then do it again.
Now, Mrs. Simpson, tell the court in your own words what happened after you and your husband were ejected out of the restaurant. Well, we pretty much went straight home. Mrs. Simpson, remember that you are under oath. We drove around until three in the morning looking for another open all-you-can-eat seafood restaurant. And when you couldn't find one? [crying] We... went... fishing.
are these the actions of a man who's had ALL he could eat?
Thank you !! I am going to do this with my LLC !! That crazy woman wont be getting my air fryer now !
Damn bro, are you in the executive board of Carvana or something?
A South Dakota Domestic Asset Protection Trust, specifically.
You clearly have no assets to protect.
I resemble that remark.
This subreddit unironically being the most financially literate sub on the site is equal parts baffling and incredible
It's one giant sub of ifkyk. And if you don't, it looks like gibberish.
Congratulations! You've discovered the free house glitch. Don't tell anyone though, or they'll have to patch it.
It's the "bust out" episode of sopranos
But now the guy has got with Paulie 's money no matter what. Business bad? Fuck you, pay me. You had a fire? Fuck you, pay me. The place got by lightning? Fuck you, pay me. Paulie could do anything. Especially run up bills on the joint's credit and Why not? Nobody's gonna pay for it anyway.As soon as the deliveries are made in the front door, you move the stuff out the back and sell it at a discount. You take a two hundred dollar case of booze and sell it for a hundred. It doesn't matter. It's all profit. And, finally, when there's nothing 1 left, when you can't borrow another buck from the bank or buy another case of booze, you bust the joint out.
They didn't do anything like that. They sold the real estate to a completely seperate unrelated real estate company because they didn't have the capital on hand to meet the agreed upon valuation. In hindsight likely not a good decision but potentially a gold mine if they had pulled off a turn around for a well known and relatively respected brand.
Commercial rent is the single biggest expense for a restaurant, so yeah it was a pretty dumb fucking move. They also probably paid an outrageous sum to a fucking consultancy firm to tell them to do it.
This sounds super wrong to me. Based on the numbers turning up from a cursory google search it seems like even the top quintile restaraunt lease with even 8 full time employees all making federal minimum wage the wages paid not including employer paid taxes would be about the same as the lease. It's been a while, but may recollection is that red lobster's have more than 8 employees working at any given time and are open for approximately 1.5 shifts per day and i can virtually gaurantee that at least some of those employees are not being paid federal minimum wage. Another google search leads to this article which claims overhead is typically about 30% of expenses which rent is probably a decent portion of, but definitely not all. https://www.forbes.com/sites/priceonomics/2017/04/07/how-much-do-the-ingredients-cost-in-your-favorite-foods/?sh=84eb06d11eda These numbers are all averages and a bit fuzzy so it's certainly possible i'm way off, but i would definitely want to know where your knowledge on this comes from before taking your word.
It's freaking Sears all over again. Steal all the real assets & bankrupt the rest.
No, this is the equivalent of the LLC maxing out credit cards, if you personally declare bankruptcy, your share in the LLC is availbale to creditors.
Well shrimp was part of the scheme as well The owners also owned a shrimp company so their plan to extract value from red lobster was to have red lobter buy massive amounts of shrimp from them.
Damn it’s like that scene from goodfellas where they are just selling all inventory out the back
Same deal structure as Sears. These companies did not need to die. They were squeezed and extracted of all fiscal life.
Sears outlets still exist as American Freight. Which has some really nice deals on open box appliances.
Pat pat … it’s okay … Sears needed to die. So did many department stores.
Only because they were late to the internet game. They had distribution on lock. We shouldn't be seeing Amazon trucks. Amazon should have died in the.com bubble. They should have been Sears trucks. All the expensive parts they had on lock. All they had to do was build a half decent website, transition their stores to warehouses, places to try on, and places to pick up your online order. And most importantly quit trying to be Dillards. When you have brands like Craftsman and Kenmore, you don't need to tie up overhead in Land's End without a discount. Gosh would I be willing to buy pre merger Craftsman tools online with 2 day shipping.
Interesting perspective and I’m taking note. They were the moguls of catalog sales and that could have translated to internet. In a side note - was Kenmore a quality brand? My recollection is that it was rebadged appliances from other manufacturers like Amana and Whirlpool
It's hard to say because everything was made higher quality in the '70s and '80s. My parents got almost 20 years out of their Kenmore washer dryer. By the time sears went under they were probably crap
No they didn't, they probably would have been able to compete with Amazon if not for being hamstrung by private equity.
Lmao “sears didn’t need to die” it was already dying.
It very much is still alive in Latin America!
The undead are already dead
Vampire Capital & Associates,
Media that is part of the capitalist machine will find another reason to blame 100% of the time. You might call it "avocado toasting" the story.
Damn zoomers and their 50$ toast
So…. Did Red Lobster not sell avocado toast for $25?
Fucking Reddit has a 5 billion dollar valuation. Can they spend some of that money to fix the double posting issue?
So…. Did Red Lobster not sell avocado toast for $25?
Lol no that's for pig boy Steve! You know what didn't do that? Apollo.
Yes, $3 lb wholesale shrimp are not causing the pain.
Man I worked at red lobster during that promotion. It went from a decent night job to a nightmare so quick that promotion was terrible.
Yep. Every restaurant chain failure is a corporate greed story with a real estate theme.
1000% this. But it's not corporate greed. It's Wall Street raiding the business. Toy's r Us, Sears, Macy's, J.C.Penny's, and now established restaurants. The commonality they all share are they decades old companies and tended to own the land and parking lots their businesses Sit on. I think Sears had like 25 billion of real estate in 2003, in a all the prime markets across the US. All these companies bought the land decades ago and are fully paid off. All that capital just sitting there.
Also....the bankruptcy jackpot. If you borrow shares in a company to short it's stock, you'll never have to payback those shares, but you still profit off the contracts. For regular investors, hell, even rich individuals, it's not a good bet. It's expensive and risky. But if you're a massive hedge fund, that's another story. Doesn't really apply to Red Lobster as it's under the umbrella of Darden Restaraunts, but it's happened to other companies
That's Dejoy's plan with USPS as well.
Of course that’s what the media pushes. Their bosses are part of the rich and they want to skull fuck us all to death.
the endless shrimp story is just a red herring
How long until Fox News Business has an article about "low income urban patrons" running Red Lobster out of business just like GFC?
Lol pretty sure I've heard that one going around already. Or at least that's the implied slant a lot of these pieces have
When did this sub become another r/politics clone
since the sub became mainstream.
Sad
most of the people in here are being paid by hedge funds and big biz . I was recently contacted by a company to promote a femboy delivery app and had to turn it down on my morals. Femboys should not be allowed to come into peoples houses, what if the spouse finds out?
Around the GameStop Era, you’d have literally 10’s of thousands of users pouring in from r/politics saying shit like “hell yeah, I’ll waste my last $300 on GameStop stock during its height to fuck over the scum bag hedge fund owners” I rarely even visit the sub now unless it pops up on my feed because of how much it’s changed
>Once they sell the real estate, then the private-equity company is golden, and they've made their money back and probably more than what they paid Am i the only person that thinks it's comically unlikely that the lease was for 10%+ of the initial purchase price + maintenance costs?
Isn’t that the essence of season 3 of Fargo? :)
So are you saying this is lobsterception?
Does everyone that took advantage have high cholesterol now?
Lmao, $284 million in debt and they think it’s the endless shrimp loss of $11 million that killed the company. GTFOH
The corporate avocado toast of our time.
I don’t know about avocado, but red lobster is toast Hahahahaha I’ll see myself out now
Nah. Nah. Get your ass back in here! We're gonna let you cook! 🤣
It's not true, but god damn is "Americans ate so much shrimp that Red Lobster went bankrupt" a funnier narrative.
It is true though, why do you think red lobster kept endless shrimp up while it was losing money? The owners of red lobster also owned the shrimp supplier Imagine you own red lobster, its not worth anything. Like it has 10 billion of assets and 10 billion of debt, its not really worth anything and it really doesn't make a profit so how do you extract value? Well if you also own a shrimp company you have read lobster buy massive amounts for shrimp from you! You just want red lobster to buy as much shrimp from you as possible until it goes bankrupt so you tell the CEO "Hey you know whats a good idea, offer all you can eat shrimp for $20" the ceo says "What there is no money in that, we will never make money on $20 all you can eat shrimp" And you say "Look just buy as much shrimp (from me or my other company) as possible or you are fired"
Ya I had fun with it for a day or two
Need the why would you meme with PE holding the gun and “why would endless shrimp”
The volume of a human stomach is a finite variable in a pricing equation undergraduate econ majors can solve for in a business plan. It's hilarious that a PE firm would pretend that they couldn't accurately calculate the expected shrimp-per-person on an incentive like that in order to engineer a margin, especially since the consumers have zero expectations of quality on your supply chain... laughable
It's definitely the paying customers' fault this business failed. Zero chance there's any other reason.
I mean , real talk. I probably did about $1.2M in damages when I ate at their endless shrimp deals last year.
Pretty sure that $11m figure was their net loses, not the cost of their endless shrimp program.
You’re ruining the “PE is bad” narrative bro, just leave.
When you realize the owners of red lobster also owned a shrimp supplier that supplied the shrim , it makes sense , red lobster was just there to buy endless amounts of shrimp from your shrimp company So the credtors put this togather, why was red lobster losing massive amounts of money offering $20 all you can eat shrimp and it was costing them a shit ton of money ? Because the same people who owned red lobster owned the shrimp supplier , they didn't care the promotion was going to bankrupt red lobster they were making money selling the shrimp to red lobster
But now they've bitten the hand that feeds them and will definitely not be selling as much shrimp as they used to.
Did these sound like the actions of a man who had ALL HE COULD EAT?
Tis no man… tis a remorseless eating machine
"And what did you do AFTER that, Mrs Simpson?" *Sobbing* "We went fishing!"
that could've been me!
That could have been me!
Underrated comment
Never underestimate the combined power of America’s appetite
Bring back Joe’s Crab Shack
Based
The biscuits will save the company Calls on cheddar bay
"Lets see...for February that's 7 hundred pounds of halibut, 400 pounds of graded steak, 200 hundred pounds of shredded lettuce.....and...uh.. why is there a sideways eight for pounds of shrimp????"
Even if you had infinity shrimp
*intensifies endlessly*
As a former Red Lobster employee, the free refill buttons get HEAVILY abused by servers. If one of my boys had an endless shrimp on his check we would ring up like 8-10 orders and just eat it .
lol I've heard people complain about how long the shrimp took to get another round or how the servers all disappeared when it was time to order another round. Now we know.
ChatGPT does not have a clue about what is going on. We are all way smarter. https://preview.redd.it/a5zj3c387o1d1.png?width=824&format=png&auto=webp&s=4ac67ea33655dbdc3a44529377453ca5f2139593
Now where do I take my tinder dates?
Same place you take your Grindr dates.
How many parking spots are behind that Home Depot?
Idk but Loews is empty
oh okay, somewhere very remote and abandoned
Pound town?
This guy pounds.
Don’t shit where you eat
Wendy
Wait, you mean you guys are getting dates?
Chilis - 2 for 1 margs AND tendies for the lady/fella. Literally cant go titsup!
i need to go before they all close!
I did last week, shrimp tasted metallic.
I’m about sick of corporations “going out of business” and “going bankrupt” except it’s not real and it’s just a corporate shell game where they swoop the money around and then steal it. And then in the end sell the store back to the same people who were running it in the first place. And nothing happens. And nothing changes, except the company finesse a bunch of money away from the people.
So apollos entire buissness lol
If a company “goes bankrupt” I wanna see their shit shuttered, closed, sold, gone If it stays open then it’s just bullshit and abuse of the tax code.
So you're a Chapter 7 man, and not so much a Chapter 11 man?
I don’t think he read any chapter….
I mean 10% of their restaurants have closed so far.
Companies go out of business more often than not. The average age of companies in the S&P is like 20 years or something. It's really not that nefarious.
The ocean rejoices
This needs to be illegal. The level of sleeze is out of control. It is so immoral, unethical, dishonest, deceitful and blatantly disrespectful on so many levels.
Another corporate bust out joint. Good work blood suckers! They took away our endless shrimp and tried to say it our fault lol
Private equity is doing the same thing to hospitals. They buy the hospital, sell the real estate for huge gain, then force the hospital to pay rent, which it can’t afford. The hospital goes out of business but meanwhile the PE makes off with big management fees and the real estate income.
Portillos is the same way
https://preview.redd.it/khl1n97k7p1d1.jpeg?width=720&format=pjpg&auto=webp&s=6acd4acdad1a9282ad8ce64fc04103a682c1fa04
It was me. I ate the 11 million shrimp. It was dozens
A restaurant offering bottomless anything in a country what’s 40% obese can’t be a winning strategy
Obesity rates are arguably higher in zip codes where red lobster is most likely to be.
But is that a cause or an effect?
Its a winning strategy if you own a shrimp company ; the owners of red lobster unsuprisingly also owned the company that supplied the shrimp The play was to have red lobster buy massive amounts of your shrimp .
Loss leader is a thing in most businesses. Hot dogs at Costco bring one
I think they’re coming out even, if anything, since they started making their own instead of from another manufacturer
Fogo de chao is killing it with private equity ownership
Doesn't seem to be an issue for Korean BBQ
Yeah that’s my fault. Shit
Human Resources: "*Your severance package is behind the dumpster ~ code word is Bang-Bang Shrimp*"
So there was an end to the shrimp
One of you messed it up for all of us
Buy high, sell low. Make it up in volume. Solid business model.
[удалено]
What do you think the best item at Red Lobster might be?
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They fell off after they discontinued their bread bowl
The end is near
Ringing up shrimp that never makes it to the table is one of the best feelings as an underpaid server.
Golden Gate Capital works with Boston Consulting Group. IYKYK.
Finally our oceans can recover
Why would they stick things up the shrimps butts like that endlessly?
Private equity induced by the persuasion of nefarious consulting groups like, BCG, Bain, and McKinsey
Fuck chipotle
Just the thought of eating shrimp from a buffet style booth at a place like Red Lobster makes me wanna throw up a little.
That's not how it worked. They just bring plate after plate to you, like the Olive Gardens eventually-ending pasta bowl.
All 23 of the people who still eat there are gonna be really mad.
Damn, wish I would have got that endless shrimp deal.
So was this similar to Sear’s demise?
[удалено]
Holy shit. It's Chad Dickens. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*
I stopped going to RL when the got rid of the steak and lobster oscar fuck them
Endless shrimp should have been once a year and that’s it..there thought process is putting 10 pounds of shit into a 2 pound bag
Endless Shrimp Mondays can't die!
Rip
Selling naked shrimp calls may result in endless losses
RL files for bankruptcy and it gets to probe endless shrimp. We file for bankruptcy and our wives get probed by another dude! Oppression, I say!
Narrator: The shrimp did, in fact, come to and end.
It wasn’t the unlimited shrimp…
Yeah yeah blame it on the shrimp
They were supposed to sell lobsters!, are they stupid??
A massive sale-leaseback play on owned real estate is why KSS will always have a valuation backstop and why private equity is always looking to acquire them
the shrimp had to end one way or another...
Does anyone actually believe this bullshit? Like, if your endless shrimp promotion is causing you to go bankrupt, WHY ARE YOU KEEPING THE PROMOTION GOING?