#saleleaseback — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #saleleaseback, aggregated by home.social.
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#UnbridledGreed #enshittification
"those mishaps look . like #selfsabotage, intended to hollow out the #restaurant chain to enrich its prev #privateequity owners, Golden Gate Capital. GGC crippled #RedLobster by selling off one of its most valuable assets, e #realestate it owned, in a #saleleaseback, for $1.5bil. With tt sale, GGC nearly made back its $2.1b purchase of 🦞, while turning the chain into a permanent leaser, adding a massive additional cost in e form of #rent"
https://prospect.org/economy/2024-05-22-raiding-red-lobster/