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Red Lobster files for bankruptcy, restaurants will stay open
(www.nbcnews.com)
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this post was submitted on 20 May 2024
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If you can't survive unless you're allowed to pay starvation level wages then the time for your business has come and gone.
The employees may have been payed starvation-level wages, but dollars to donuts the C-suite was well compensated.
Reading that quote in isolation from the rest of the article sounds like, "and this didn't help the situation", not "if it hands been for these higher wages, we would have been totally fine."
Let's face it, if business is hard, any increased expense is going to hurt (and is going to be mentioned in your bankruptcy filing), even if it's insignificant in isolation.