I know follett folks are asking, "that's too bad, but why post it here?" Good question. Red Lobster was an OK company. It was integrated with its supply chain. It earned a decent profit using a tried and true business model, for them. Sound familiar yet? After the corporate holding company spun them off to a private equity company, supply chains fractured, debt was charged against the company, long term employees fled. Now they're in BK.
If you're not planning for your first best job out of this scar tissue of a company, read up on Red Lobster. The similarities are unmistakable.
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I don’t disagree with PE being horrible, but this company was run horribly before! They had to sell the business or they would’ve gone bankrupt. They were cutting hours before while spending massive amounts on the executives, and they were behind on bills too. I know we put at least one company out of business by refusing to pay back in 2019.