Red Lobster lost $11M on endless shrimp promotions—but its real estate holdings were what dragged it to bankruptcy

Hooters filed for bankruptcy in March 2025 after being operated by two very distinct operations

For years before that filing, the restaurant group had been operated by two different companies: one owned by private equity, and the other that includes the original founders.

A private equity firm led the leveraged buyout of Toys 'R' Us before the company's bankruptcy

After being acquired by two private equity firms and a real estate company for more than $6B in 2005, Toys 'R' Us filed for bankruptcy in 2017. Many point to the $400M a year the company had to pay to service its debt, as well as increased competition from online retailers like Amazon, for draining its profits and ultimately dragging it under.

Pets.com is one of the most emblematic dot-com companies

Pets.com—an e-commerce pet store webpage—is a prime example of dot-com companies burning through investments. Despite being a popular and well-known brand, the company struggled to generate enough revenue to become profitable. After raising approximately $82.5M in its February 2000 initial public offering, Pets.com filed for bankruptcy in November of that same year.

See a database of large companies owned by private equity firms

The Private Equity Stakeholder Project tracked more than 200 companies owned by private equity with more than 7,000 employees. Companies on the list include J. Crew, Jersey Mike's Subs, Barnes and Noble, Panera Bread, and Tropical Smoothie Cafe.

What is Chapter 11 bankruptcy?

While there are multiple types of bankruptcies, Chapter 11 is probably the one you've heard about the most. Technically speaking, Chapter 11 bankruptcy involves a reorganization of a business's assets and debts under court supervision. Companies such as Red Lobster, WeWork, and Party City have all filed for Chapter 11 bankruptcy in recent years. Learn more about it here.

As of 2024, Macy’s wanted to monetize its store closures through real estate deals

In a 2024 earnings call, Macy’s noted that while it’s remodeling and investing in some of its brick-and-mortar locations, it seeks to shutter other stores in lower-performing locations. It’s estimated that Macy's will close 150 locations through 2026.

In 2023 and the first half of 2024, Berkshire Hathaway bought back more than $12B of its own stock

In the second half of 2024, the company—and Buffett—decided to buy up shares of Domino’s Pizza, Pool, Sirius XM Holdings, and Liberty Media. They also decided to sell Capital One, Ulta Beauty, and Nu Holdings, among others. Learn why Buffett is buying and selling these stocks and what it could mean for the financial conglomerate.

A reclusive billionaire ran Sears before its bankruptcy

Former Sears CEO and hedge fund manager Eddie Lampert was once kidnapped from his home in Greenwich, Connecticut by criminals looking to get rich. Some argue that the incident colored Sears’ history.

Sophia Amoruso's company Nasty Gal was worth $100M at its peak

In 2006, Sophia Amoruso started an eBay shop that would later transform into the clothing company Nasty Gal. However, Amoruso’s rags-to-riches success with Nasty Gal didn’t last. After multiple rounds of layoffs and employee complaints, the company filed for bankruptcy in 2016.

Between 2016 and 2023, PE spent more than $200B buying British companies

Between the COVID-19 pandemic and the United Kingdom's official departure from the European Union, the UK's economy struggled to recover. This economic strife led to British companies receiving steadily lower valuations than American companies, prompting a huge increase in PE investment. However, interest rates began increasing in 2022, putting pressure on the numerous leveraged buyout deals that took place between 2020 and 2021.

How one Portland dive bar helped drive Pabst Blue Ribbon's comeback

In 2004, the Washington Post reported on the resurgence of Pabst Blue Ribbon, recast as a hip alternative to bigger-label brews, and said its comeback was thanks to Lutz Tavern in Portland, Oregon, which sold the beer for $1 a can.

How a failed investment bank almost became the name of a whiskey line

In the fallout of the Great Recession of 2008, Barclays bought several assets from the failed investment bank Lehman Brothers in a fire sale and maintained the company's trademark, despite the bank's collapse. Tiger Lily Ventures attempted to launch a whiskey line parodying the name, but the product was rejected in court due to questions over Barclays' maintenance of the trademark.

Tom Petty used bankruptcy to change the music industry

In order to resolve a dispute over how a label was treating him as an artist, he self-produced an album and racked up $500K in debt. The resulting bankruptcy filing allowed him to start a new contract with the label on more favorable terms.

Contrary to popular belief, Netflix didn't kill Blockbuster

Blockbuster was definitely the loser in its years-long battle with Netflix, but the conventional wisdom that the streaming giant killed the established video store chain is incorrect. Blockbuster’s large debt load—and an activist shareholder who didn’t fully appreciate the threat Netflix posed—led the chain to squander its advantages.

Some semi-liquid private credit funds saw a surge in investor redemptions in early 2026

This raised red flags about the state of the private credit market at large. However, experts have cautioned that the idea that private credit is on the verge of collapse is overstated.

Rent the Runway recently lost over 90% of its value

The COVID-19 pandemic and increased competition post-2020 are just two factors plaguing the designer clothing rental company.

GameStop stock began a meteoric rise in January 2021, rallying from a low of $2.57 to as high as $438 when Keith Gill helped mobilize retail investors to drive prices higher

Keith Gill was a financial advisor who posted on social media under usernames including "Roaring Kitty." Backing from Chewy founder Ryan Cohen, who became GameStop's CEO, took things up a notch.

The billion-dollar ghost town in Baltimore

As a Rust Belt city looking to revitalize its economic core, Baltimore, Maryland, sought big investments from developers and municipalities. The so-called Baltimore Peninsula is a billion-dollar neighborhood in south Baltimore initially prompted by the investment of Under Armour CEO Kevin Plank. In 2025, the glossy, grand urban neighborhood is still empty, with fully-built condos and retail spaces.

Winning a James Beard Award can have mixed effects

Winning the honor doesn't mean a restaurant will be set for the future. Most found that while winning gave an initial bump in the number of reservations, that pattern didn’t necessarily hold for long enough to make a real difference in the numbers.

Famed American investor Jesse Livermore made millions when the stock market crashed in 1929

Livermore made his first major short against rail company Union Pacific in 1906, coincidentally before an earthquake in San Francisco, which ultimately tanked share prices. During a financial panic the next year, JP Morgan reportedly asked Livermore to increase his long-term investments to restore hope and restabilize the market—which Livermore did. However, Livermore began betting against the market in 1929, sensing that stocks were too hot, and was one of the few people to benefit from the 1929 stock crash.

23andMe declared bankruptcy in March 2025

The consumer genetic testing company, which offered detailed genetic profiles from users' saliva samples, suffered financially after they suffered a major data breach affecting almost 7 million customers in 2023. Its flagship product was a one-time genetic analysis which also made retention of users challenging.

Sushi is an estimated $33B business in the US

US fishermen stock most of the country's more than 17,000 sushi restaurants. Distributors frequently adjust prices for different fish, based on their availability and the quality of the meat. This podcast unpacks how that industry operates.

Inside one of the largest US military bribery schemes

Glenn Defense Marine Asia Ltd. sprinkled US Navy officers with gifts, hosted events attended by Navy officers that were staffed by sex workers, and won millions of dollars worth of inflated military contracts to provide food, fuel, and security to Navy aircraft carriers. Leonard "Fat Leonard" Glenn Francis helmed the company. This 35-minute podcast episode is the beginning of a multi-part series sharing Francis' story from his perspective.

Dollar stores can have negative impacts on local businesses

When a household name dollar store like Dollar General opens in a small town or local community, neighborhood businesses often lose out on key sales, driving revenue down and putting them at risk of closure. This has led some experts to argue that dollar store chains can cause economic stress, rather than relieve it.

A Saudi Arabian sovereign wealth fund divested from LIV Golf after pumping more than $6B into the PGA's controversial rival

The Saudi Arabian Public Investment Fund was the primary backer of LIV Golf, and at one point held more than 90% of the league's ownership stake. Famous golfers, like the three-time Masters' champion Phil Mickelson, criticized the league for "sportswashing" Saudi Arabia's questionable human rights record.

SpaceX's S-1 or 'prospectus' revealed many previously unknown details about the company, including its unprofitability despite doing $18.7B in revenue in 2025, exactly how many voting shares Elon Musk will have in the company (roughly 85%), and more.

Fast-casual restaurant Chili's is experiencing a resurgence, with its parent company recently reporting a nearly 32% increase in sales, thanks to passionate Gen Z fans on TikTok.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

When caught in the mouths of cardinal fish, seed shrimp release glowing, bioluminescent chemicals, which alert predators of the cardinal fish, prompting the shrimp's ejection.

The distributor behind 'Rocky Horror' pulled the film from its scheduled national release, believing it would be a failure, though it eventually amassed a dedicated fanbase through midnight showings, a trend that continues over 50 years later.

Domino's Pizza's 30-minute delivery guarantee was responsible for the chain's 1980s surge, but it was discontinued after the company was found liable for delivery driver accidents.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

Netflix profits when you're not watching, and its movies are designed that way—read a detail-rich critical essay exposing lesser-known Netflix takes

Telehealth demand for GLP-1s for weight loss is booming as consumers seek easier access.

In 2019, a laptop loaded with six of the worst malware in history and described as 'an exhibit of historical weaponry' sold for $1.3M.

Up to a million Girl Scouts sell about 200 million cookie boxes every spring, generating $800 million, largely because refusing a child is frowned upon

The Great Salt Lake's distinct dual coloration results from high-salinity organisms that only live in the northern portion and produce a purple protein.

'Shogun,' a 1980s TV series, helped popularize sushi in the US by stimulating an American interest in Japanese culture.

The animatronic shark from Steven Spielberg's 'Jaws,' the first modern blockbuster, was a complex underwater apparatus called 'Bruce.'

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

Artificial coral reefs have been 3D printed from nontoxic, biodegradable terracotta clay, which coral polyps have used as a foundation for rebuilding marine ecosystems.

Budweiser stores yeast derived from the original 1800s strain in a secret bunker, which only the Head of Yeast Management can access—not even the CEO

Frank Lloyd Wright's houses are historically hard to sell because they're old, subject to local landmark commissions, and often unfashionable

In 1939, baseball star Lou Gehrig delivered his inspirational 'Luckiest Man' speech after retiring due to the health condition that now bears his name.

The Beatles' US label rejected the band's first two singles, 'Please Please Me' and 'From Me to You,' with one executive calling the band 'dead in the water.'

Louisiana's 'Cancer Alley' is infamous for having some of the highest industrial pollution, toxic air emissions, and cancer risks in the US.

Apollo astronauts left items in the moon's 'toss zone,' including golf balls, family photos, and bags of human waste, to make room for lunar rocks.

A pickleball's loud 'pop' sound can reach 120 decibels, which is equivalent to a hammer hitting a nail

Stanford built a Google Maps for the Roman Empire, revealing how much it cost to travel in the ancient world

SpongeBob exemplifies Aristotle's philosophy for living well because he understands that happiness doesn't come from external factors like money, recognition, or power.