Interesting about the $20 endless shrimp thing. Apparently the company was controlled by one of it's suppliers, who supplied shrimp, and wanted to sell more shrimp.
Sea food tends to be expensive, all you can eat seafood seems like a bad idea.
Bankruptcy just means that the business is unable to pay its debts and needs to be restructured.
Probably that means the shrimp supplier who owns the equity in the business will lose that equity. The people the company owes money to will probably be given the equity, and the debts the business owes will be restructured (smaller amount, lower interest rates, longer duration, etc).
It could be that the entire whole business will be closed down, or they may decide to keep the business as a going concern. It'll come down to which way they feel they can best repay the money the business owes.
They closed 100 restaurants in the US already lol, they're culling more of them as this develops. I remember there was one in Milwaukee.
I don't go to enough restaurants because I'm poor. Probably only once or twice a year. I also only eat fastfood like 5 or 6 times a year but that's partially out of health concerns as well as price.
Haven't been since I was a teenager, it was probably my mom's favorite restaurant. I remember us going a few times and she loved it. She also loved Olive Garden, I always thought it was a little treat to go to either one and I guess it was since I grew up kinda poor. I always thought they were akin to some fine dining almost 😂
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Originally posted by trippymindfuk
Haven't been since I was a teenager, it was probably my mom's favorite restaurant. I remember us going a few times and she loved it. She also loved Olive Garden, I always thought it was a little treat to go to either one and I guess it was since I grew up kinda poor. I always thought they were akin to some fine dining almost 😂
Same, I saw a meme about this "You know you grew up poor if you grew up thinking Red Lobster and Olive Garden were fine dining."
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Originally posted by Charles Ex Machina
condensed into useful insight.
Except not necessarily true. In US law, Chapter 11 bankruptcies often mean the company will be kept open. Chapter 7 usually means the business will close. Red Lobster has applied for Chapter 11.
Originally posted by Donald Trump
Except not necessarily true. In US law, Chapter 11 bankruptcies often mean the company will be kept open. Chapter 7 usually means the business will close. Red Lobster has applied for Chapter 11.
chapter 11 isnt bankruptcy its an appeal for re-org and rationalization.
