Re:You Can Thank Private Equity for That Enormous Doctor's Bill
by bluGill on Thursday May 30, 2024 @09:13AM
(#40523279)
Don't forget that Red Lobster was already a failing business. The PE that did this is also running several other restaurants that so far are successful. They know what they are doing, and they also know where nothing can save the restaurant and so made the decision to get their losses.
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Re:You Can Thank Private Equity for That Enormous Doctor's Bill
by FireBeyond on Thursday May 30, 2024 @01:14PM
(#40526169)
They didn't make the decision to salvage their losses.
Like you said, it was a failing business.
PE didn't come in with the goal to turn Red Lobster around. EVERYTHING the parent poster described was things PE didn't do to save Red Lobster, it was "How can we suck this thing dry before it dies".
The most charitable thing that you could say is that PE was putting Red Lobster out of its misery. While making bank on doing so.
Re:You Can Thank Private Equity for That Enormous Doctor's Bill
by pnutjam on Friday May 31, 2024 @10:07AM
(#40535375)
What they did is akin to saying Grandma can stay with me, but she's dying so I'm going to sell her wheelchair. Then I send her to stay with my sister and make them rent the wheelchair back, so other care can't be afforded and her health suffers and she dies.
Then you come along and say, "She was already dying".