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The suit is seeking judgment against Red Lobster to give workers "an amount equal to the sum of their unpaid wages, salary, commissions, bonuses, accrued holiday pay, accrued vacation pay, pension ...
When a private-equity firm bought Red Lobster in 2014, it sold the land under the restaurants for $1.5 billion. Now the restaurants can't pay the rent. It wasn't the endless shrimp that doomed Red ...
At the outset, Red Lobster would be paying $118.5 million in cash rent, about half the chain's annual operating earnings, he wrote. "Red Lobster's real estate sale gives its new owners little room ...
Red Lobster Hospitality, LLC is an American casual dining restaurant chain headquartered in Orlando, Florida.The company has operations across most of the United States (including Puerto Rico and Guam) and Canada, as well as in China, Ecuador, Japan, Malaysia, Mexico, Philippines, Turkey and the United Arab Emirates; as of June 23, 2020, the company had 719 locations worldwide.
Red Lobster’s controlling shareholder Thai Union also hurt the brand, say former employees and analysts. Thai Union was a top supplier of shrimp to Red Lobster for more than 20 years.
Darden Restaurants sold Red Lobster to a private equity firm in 2014. Thai Union Group, one of the world’s largest seafood suppliers, first invested in Red Lobster in 2016 and upped its stake in ...
The following year, Darden sold Red Lobster to Golden Gate Capital, a private equity firm, for $2.1 billion. To help fund the deal, Red Lobster spun off its real estate assets in a transaction ...
When seafood conglomerate Thai Union Group became Red Lobster’s leading shareholder in 2020, gaining 49% control of the chain, Red Lobster employees were assured Thai Union would not interfere ...