Comment by pfdietz

One can blame the private equity investors buying it, but every sale requires not just a buyer, but also a seller. The owner of RL sold it to this private equity firm for an amount they felt was proper. The PE firm got more money out than they put in, so they increased the value of the assets. If this meant (in effect) shutting down RL in slow motion, then so be it. Sometimes it's best to just put a pillow over a company's face and say that's it.