People Are Learning Red Lobster Didn’t Go Bankrupt Because Of Endless Shrimp, They Were Attacked B

People Are Learning Red Lobster Didn’t Go Bankrupt Because Of Endless Shrimp, They Were Attacked By Wall Street For Their Land

Here’s the full story

“The only reason Red Lobster's going into bankruptcy is because a hedge fund wanted them to go into bankruptcy.”

“The media will never stop covering for hedge funds while making it seem like every problem is the fault of the American people.

Like, I'd be willing to bet you think Red Lobster went into bankruptcy because of endless shrimp. You know, the endless shrimp promotion they had. Because that's what the media's told you. They've been telling you repeatedly that the reason Red Lobster went into bankruptcy was that they had the endless shrimp combo and the greedy American people just took advantage of it.

That's not what happened.

No, what happened was a hedge fund bought Red Lobster and as a condition of the sale, they made therm split up their land and their restaurants.

Because up until that point, Red Lobster actually owned all of the land that their restaurants were located on.

And then once they made them split that up, the hedge funds made the leases on that land so expensive that the Red Lobsters couldn't possibly continue to operate.

So Red Lobster had to keep trying new and new things to try to make enough money to pay these leases. And it was never enough to be able to afford what the hedge fund wanted to charge them.

So now they're going into bankruptcy. But the media is not talking about that and the American people were the problem.

That Red Lobster made terrible marketing decisions and the American people took advantage of it. But make no mistake, the only reason Red Lobster's going into bankruptcy is because a hedge fund wanted them to go into bankruptcy.