All-you-can-eat Dividend Recaps Sink Major US Restaurant Chain
The collapse and bankruptcy of Buffets, Inc. - the largest chain of buffet-style restaurants in the US which at one time employed over 36,000 workers - provides an object lesson in how private equity owners can get their cash out quickly through dividend recapitalizations, suffocate a business to the point of bankruptcy under accumulated debt… and still turn a profit.
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