Red Robin Gourmet Burgers, Inc. (RRGB) Social Stream
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$RRGB From Bloomberg: "Overdue rent compounds the problems these companies have faced this year, including lost sales during shutdowns, consumers’ reluctance to return to stores and restaurants and the long-running migration of shoppers from brick-and-mortar locations to online venues.OldeFrothingslosh, published November 24, 2020
Red Robin Gourmet Burgers Inc., meanwhile, said that it’s received default notices from some landlords after it stopped making full payments in April. Chief Financial Officer Lynn Schweinfurth told investors on a Nov. 5 call that the restaurant chain had negotiated amendments for about half of its leases by the end of its third quarter and continues in talks for the rest. " I smell chapter 11 bankruptcy protection here. With less than 27 million in cash, their ability to borrow will be severely limited, if not impossible. The only thing they can do is hold off the creditors, and HOPE the customers come back... if a Harris/Biden administration ever lets them.