InstitutionClaim Cited
Red Lobster's 2024 bankruptcy was not an unlimited-shrimp punch line: ownership changes, a large sale-leaseback, fixed restaurant rents, supplier influence, operating turnover, pandemic disruption, and changing demand combined to narrow the chain's room to learn and adapt.
What happens when an operating company loses control of the assets and contractual flexibility it needs to adapt, while owners and suppliers retain claims that look stable from outside the restaurants?
InstitutionClaim Cited
Steward Health Care turned nonprofit hospitals into a national for-profit system financed through private equity, debt, and sale-leasebacks; the resulting expansion separated hospital property from care while patients and communities continued to depend on the operating institutions left paying rent.
What governance limits should apply when financial owners can separate and monetize hospital assets but patients, clinicians, and communities cannot separate their lives from the operating institution?