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1. www.fastcompany.com › 91129776 › what-really-killedHere's what really killed Red Lobster - Fast Company

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   May 23, 2024 · In 2016, Golden Gate sold a 25% stake in the company for $575 million to a seafood company called Thai Union, which was (and is) one of Red Lobster’s biggest suppliers.

2. www.businessinsider.com › red-lobster-endlessRed Lobster Bankruptcy: Wall Street Wrecked the Chain, Not ...

   www.businessinsider.com › red-lobster-endless

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   May 1, 2024 · In 2014, amid flagging sales and pressure from investors, Darden sold Red Lobster for $2.1 billion to Golden Gate Capital, a San Francisco private-equity firm.

   • Founder: Henry Blodget

3. www.eater.com › 24160929 › red-lobster-bankruptcyRed Lobster’s Demise Was Never About the Endless Shrimp

   www.eater.com › 24160929 › red-lobster-bankruptcy

   May 20, 2024 · In 2014, its parent company Darden sold Red Lobster to a private equity firm called Golden Gate Capital for $2.1 billion. That sale helped Darden pay off $100 million in debt and fueled...

4. www.cnn.com › 2024/05/03 › foodWhat went wrong at Red Lobster | CNN Business

   www.cnn.com › 2024/05/03 › food

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   May 3, 2024 · 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...

5. www.independent.co.uk › news › worldCost-cutting and piles of shrimp: What really drove Red ...

   www.independent.co.uk › news › world

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   May 21, 2024 · The buyer was a San Francisco-based private equity firm called Golden Gate Capital. Instead of ponying up the $2.1bn price by itself, it partly funded the deal by selling off most of Red...

6. www.cnn.com › 2024/05/20 › businessHow Red Lobster’s misguided endless shrimp promotion drove it ...

   www.cnn.com › 2024/05/20 › business

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   May 20, 2024 · 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...

7. People also ask

   What happened to Golden Gate Capital?

   • In 2020, Golden Gate Capital then sold its remaining stake in the seafood restaurant chain to Thailand-based Thai Union. Thai Union announced it would divest from the chain by the end of 2024, citing the pandemic, inflation and rising costs in a Jan. 16 statement.

   Red Lobster Files For Bankruptcy—How Did It Get There?

   www.forbes.com/sites/caileygleeson/2024/05/20/why-red-lobster-went-bankrupt-covid-rising-costs-and-millions-lost-on-endless-shrimp/

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   Did Golden Gate Capital sell Red Lobster to Thai Union?

   • In August of 2020, Golden Gate Capital sold Red Lobster to Thai Union, a Thailand-based seafood company that owns a number of seafood brands, including canned tuna brand Chicken of the Sea.

   Why Red Lobster Filed for Bankruptcy: It Wasn’t the Endless Shrimp - Ea…

   www.eater.com/24160929/red-lobster-bankruptcy-endless-shrimp-closing-locations

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   Why did Golden Gate buy Red Lobster?

   • To raise enough cash to make the deal happen, Golden Gate sold off Red Lobster's real estate to another entity — in this case, a company called American Realty Capital Properties — and then immediately leased the restaurants back.

   The fishy death of Red Lobster - Business Insider

   www.businessinsider.com/red-lobster-endless-shrimp-bankruptcy-private-equity-debt-real-estate-2024-5

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   What happened to Golden Gate & Thai Union?

   • After the real estate move, Golden Gate sold 25% of the company in 2016 to Thai Union, a Thailand seafood company, for $575 million and unloaded the rest of the company to an investor group called the Seafood Alliance, of which Thai Union was a part, in 2020.

   The fishy death of Red Lobster - Business Insider

   www.businessinsider.com/red-lobster-endless-shrimp-bankruptcy-private-equity-debt-real-estate-2024-5

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8. www.forbes.com › sites › caileygleesonRed Lobster Files For Bankruptcy—How Did It Get There?

   www.forbes.com › sites › caileygleeson

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   May 20, 2024 · Red Lobster announced late Sunday it filed for bankruptcy, days after it began shuttering dozens of restaurants — after years of struggling with ownership turnover, plateauing sales and...