Red Lobster closing due to Obamacare?

Red Lobster closing due to Obamacare?

Is Red Lobster closing down due to Obamacare?…

For Red Lobster, Obamacare became a financial business decision that cost the employees. The Darden Restaurant group cut more employees from full to part-time hours in a bid to save on health care costs, blaming Obamacare for the decision. This was after the company began forcing servers to share tips with other workers in the restaurants starting in 2011.

Reports about Red Lobster closing down noted Darden has a market value of $6.7 billion and the seafood restaurant represents one of their core chains, accounting for $2.6 billion in 2013 with its 705 restaurants scattered across the United States and Canada. Some thought Darden was having Red Lobster shut down as a “tax-free spin-off.” Even Olive Garden and LongHorn Steakhouse expansion will be slowed.

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