Posted on Oct 4, 2024
Red Lobster is a mess. Here’s why the new 35-year-old CEO wanted the job anyway | CNN Business
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I've never had Red Lobster but what stood out to me is this CEO is only 35 and previously the CEO of P.F. Changs at 30.
Red Lobster is a mess. Here’s why the new 35-year-old CEO wanted the job anyway | CNN Business
Posted from cnn.com
Millennials
Business
Posted 2 mo ago
Responses: 1
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Hope he deals with the private equity issue that wrecked the restaurant chain…
https://www.nbcnews.com/business/consumer/private-equity-rolled-red-lobster-rcna153397
https://www.nbcnews.com/business/consumer/private-equity-rolled-red-lobster-rcna153397
How private equity rolled Red Lobster
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.
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Maj (Join to see)
We have an unwritten rule in my industry that whenever PE picks up one of your vendors, it's time to find another vendor. PE generally ruins everything.
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