Major restaurant chain closing locations amid $620 million buyout
The company has 28 restaurants in New York state.
Denny's
Thank you, not including the subject matter in the headline is clickbait garbage,
The closures come as Denny’s announced it was going private in a $620 million buyout by a group that including TriArtisan Capital Advisors, Treville Capital Group and Yadav Enterprises. Stockwits said stockholders from Yadav, one of Denny’s largest franchisees, will receive $6.25 per share in the deal.
So long, Denny's. Soon you will be gutted and sold for scrap, and your name will be added to the list:
https://en.wikipedia.org/wiki/List_of_private_equity_owned_companies_that_have_filed_for_bankruptcy
Dennys ruined Dennys by being Dennys. Mostly the only reason I've ever gone there is because it was the only place open after the bars closed. During normal hours, there are about a million other restaurants I'd rather spend my money at. In this case, I don't really see the issue and hope they tank further in order to deprive these private equity firms of even more capital.
Also side note, they mentioned the one in San Francisco closing and im wondering if its the same one we visited in the early '10s on a family vacation. To this day, I wonder how much those workers could possibly have earned in the most expensive city in the country and whether it was worth what was probably a two hour commute to get there.
Exactly. Fuck private equity takeovers, but at the same time successful companies rarely get taken over by private equity.
I'm torn. No more legalizeed gambling in stock market; big corpo entities all the same. 😑
RTFA
Denny’s said in a statement. “In 2024, Denny’s announced its strategy to close approximately 150 underperforming restaurants by the end of 2025, which the brand has been doing over the course of the past year.
This is how it starts. Denny's is slowly dying. Its revenue in 2025 is half what it was 20 years ago. Denny's is trying to stop the bleeding by scaling back, but it's too little too late. Private equity smells blood in the water. This will end just like Toys R Us, Sears, and so many others.
Are we really losing anything? Overpriced eggs and greasy breakfast that leaves you feeling sick? I say good riddance. More chains should follow suit tbh. Chillis, tgi Fridays, Applebee's, etc.
Guess America’s diner isn’t always open huh