Cracker Barrel stock plunged as much as 15% after the restaurant chain released a new logo that removes its long-time image of a man leaning against a barrel.
Red Lobster is the baseline specimen for all of this. RL was spared during the recession because they owned all of the land their restaurants were on, meaning they didn’t have to deal with skyrocketing rents, but private equity made them sell all that land (to a different company also owned by the same private equity firm) and start paying skyrocketing rents and hey wouldn’t you know they went bankrupt.
Red Lobster is the baseline specimen for all of this. RL was spared during the recession because they owned all of the land their restaurants were on, meaning they didn’t have to deal with skyrocketing rents, but private equity made them sell all that land (to a different company also owned by the same private equity firm) and start paying skyrocketing rents and hey wouldn’t you know they went bankrupt.
right out of the IMF playbook
Iirc it was a Thai conglomerate that also made Red Lobster source their seafood from them. Even the unlimited shrimp was a scam.