We’ll find out soon which of two proposals to restructure chain giant Darden’s restaurant brand portfolio—one championed by activist investors, the other floated by Darden itself—will prevail. But in the meantime, many full-service chain operators may be wondering what these moves say about where the casual dining segment is headed. Some may even be wondering if buying a Red Lobster franchise—never an option before—might now make sense. The key ...

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