Comments by "HKim0072" (@HKim0072) on "Red Lobster in Mira Mesa is one of more than 100 locations closing" video.

  1. Another casualty of private equity. They'd still be in business if they never were bought out in 2014. Golden Gate, which bought the chain for $2.1 billion in 2014. At that time, virtually all of the real estate under Red Lobster restaurants was owned by the chain, which has no franchisees. Golden Gate, a private-equity firm, then sold the real estate for $1.6 billion to American Realty Capital Partners, which changed its name and reformed as Vereit this July. The properties were leased back to Golden Gate.
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  2. Red Lobster owned all their real estate until...private equity swooped in and sold their locations.
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  3. GOP Private Equity America. The company had $1.6 billion in real estate assets that the private equity sold off in the 2014. Instead of owning $1.6 billion in assets, they had to start paying rent.
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