In this photo illustration, a cooked lobster is displayed on a plate at a Red Lobster restaurant on May 20, 2024 in Austin, Texas.
Under the terms of the sale, Red Lobster would also see regular rent increases of 2% a year, the release noted.
"All of the people who were supplying Red Lobster, all of the people who are essentially providing services to Red Lobster, the small businesses in the communities affected by mass layoffs, they are next in line, they are experiencing the ripple effect."
Sen. Edward Markey, a Democrat from Massachusetts, where eight hospitals operated by bankrupt Steward Health Care are, recently held hearings on private equity and health care.
Private equity is emerging in all parts of our economy, Markey added, but its most profound impact is in health care.
Persons:
didn't, Josh Olshansky, leaseback, Red, Moody's, Andrew Park, Oscar, Robert Reich, Bill Clinton, America's, Reich, Austin Hurst, Hurst, Sen, Edward Markey, Markey
Organizations:
Sears, Mervyn's, Steward, Manor Care, Companies, Golden, American Realty Capital Partners, Realty, Lobster, Financial Reform, Thai Union Group, Thai Union, Steward Health, Department of Health, Human Services
Locations:
Austin , Texas, Canada, San Francisco, Golden, Bangkok, Thai, Arizona, Massachusetts