Have you seen this letter yet?
Darden Restaurants, Inc. has entered into a definitive agreement to sell its Red Lobster business and certain other related assets and assumed liabilities to Golden Gate Capital for $2.1 billion in cash.
Red Lobster has decided to rebuild its company image and stand on its own.
Looks like they are aiming for a higher class image and you know what that means - higher prices !!
I'm sure they are going to "catch" some grief over this.
I can't wait for the complaints to start "streaming" in.
Sounds like the typical "bait" and switch tactic to me.
First, you "lure" your customers in with visions of new, high class seafood, then you are "slammed" and before you know it they are giving you the high price "hook."
What's their "angler" here?
They should take a "pole" to see if everyone thinks this is a good idea.