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Unformatted text preview: Soon the partnership included 11 employees and became a limited liability company . Which means the company provides limited liability for the members, but for tax purposed the company is still treated as a partnership. The Rose Restaurant Company grew tremendously in volume and numbers. They finally had to move from Shiwanda’s mother home and brought a restaurant in town. In 1965 Shiwanda finally got tired of the business, she decided she no longer wanted to be a partner in the business, so she left her half of the business to her sister. Malinda really did not like that her sister wanted to get out of the business, so they both decided to sell the business to someone who wanted to start a restaurant. In 1968 Michelle Blango bought Rose Restaurant Company and changed the name to Fat Tuesday’s. Now today the restaurant is a joint-stock company and has grown tremendously....
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- Spring '08
- Business, Corporation, Types of companies, Legal entities, Rose Restaurant Company