Bankrupt Red Lobster Proves "All You Can Eat" In An Obese Country Isn't A Good Idea [zero hedge]
THAI UN GRP PUB CO U/ADR (TUFBY)
Company Research
Source: zero hedge
Bankrupt Red Lobster Proves "All You Can Eat" In An Obese Country Isn't A Good Idea Red Lobster's bankruptcy report is revealing details about how the chain, famous for trying to turn a profit selling "all you can eat" shrimp to a country that has gotten so fat it needs to occupy two seats on most airline flights, went under. In a post-mortem, CNN detailed that the chain first struggled due to decisions by a private equity firm that acquired it from Darden Restaurants in 2014, which involved selling and leasing back its property at high rates. The situation worsened - as it did for many restaurants - with the 2020 pandemic and subsequent inflation, plunging the chain into financial distress with $1 billion in debt and less than $30 million in cash. Then, management errors compounded these issues, particularly under CEO Paul Kenny, appointed by major stakeholder Thai Union. Kenny's policies, including securing an exclusive, costly shrimp supply deal for Red Lobster, led to further fina
Show less
Read more
Impact Snapshot
Event Time:
TUFBY
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
TUFBY alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
TUFBY alerts
High impacting THAI UN GRP PUB CO U/ADR news events
Weekly update
A roundup of the hottest topics