They are blaming "endless shrimp" for the recent bankruptcy, but really it was more private equity selling off their assets and making them rent it back:
> When a private-equity firm bought the iconic seafood chain in 2014, it sold the real estate under the restaurants for $1.5 billion. Then the restaurants struggled to pay the rents.
I wonder how much Golden Gate, or the people running it, had invested in the real estate company that got the properties at below market value. I would not be shocked at all to learn some self-dealing was happening.
They are blaming "endless shrimp" for the recent bankruptcy, but really it was more private equity selling off their assets and making them rent it back:
https://www.nbcnews.com/business/consumer/private-equity-rol...
> When a private-equity firm bought the iconic seafood chain in 2014, it sold the real estate under the restaurants for $1.5 billion. Then the restaurants struggled to pay the rents.
I wonder how much Golden Gate, or the people running it, had invested in the real estate company that got the properties at below market value. I would not be shocked at all to learn some self-dealing was happening.