. But its efforts have involved publicly traded firms, ensuring a measure of regulatory oversight.
Industry experts said that Food Management Partners might see more value in a distressed chain’s real estate, cooking equipment, leases and intellectual property than in its restaurant operations, a notoriously low-margin business. I don’t think they are in the business of operating restaurants — I think they are in the business of trying to make money, but doing so in ways that are probably less than scrupulous and doing so in ways that take advantage of employees and loopholes.Longtime restaurant industry executive Frank Guidara said that chains such as Coco’s and HomeTown Buffet have struggled for some time, making them attractive buyout targets.
“Nobody had any warning,” said Hotta, who is studying journalism at El Camino College. “I have fears and anxieties, I have credit card bills — I have to cut back on a lot. I have been applying to [jobs] and looking around, but without a car, even getting around hurts my funds since I don’t have a paycheck.”on an “unimaginable employment situation” discovered after the purchase of the chain from House Foods America.
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