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2024-05-22 Economy

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Posted by Lord Garth 2024-05-22 00:00|| || Front Page|| [131 views ] Top

#1 ...Two interesting details here:

First, during a reorganization, RL's parent company bought the land under each RL...then leased it back to the restaraunt. That way, no matter how bad the economy was, there was a steady income stream from every single site. Tough luck for the franchisee, though.

And the $20 shrimp helped do 'em in, but not the way you'd think: one of RL's owners is a Thai fishing company...which was making them buy their shrimp at a fairly substantial markup. This meant that even though the $20 shrimp was RL's best selling meal, they were losing money on every plate because they couldn't source cheaper shrimp.

Good thing I'm not smart enough to understand business. ;)

Mike

Posted by MikeKozlowski 2024-05-22 06:31|| 2024-05-22 06:31|| Front Page Top

#2 The statement is true. It will take more than one chapter 11 to knockout RL. I suspect it will be 10 years.

Posted by Super Hose 2024-05-22 08:18|| 2024-05-22 08:18|| Front Page Top

#3 What I liked was the way Thai Union, the current owner, said that they would no longer supply RL.
They expect to be paid.

Posted by ed in texas 2024-05-22 11:57|| 2024-05-22 11:57|| Front Page Top

#4 Not a bad franchise restaurant- not great but decent enough.

Posted by Glenmore 2024-05-22 20:08|| 2024-05-22 20:08|| Front Page Top

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