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Red Lobster Announces, Nearly 100 Locations , Will Be Shut Down.<br/>NBC reports that approximately 99 Red Lobster locations <br/>will be auctioned off as the seafood chain faces <br/>questions regarding the company's long-term future.<br/>Founder and CEO of the liquidation firm TAGeX Brands, <br/>Neal Sherman, said he would lead the closure of over <br/>50 locations in a May 13 LinkedIn post.<br/>Sherman said equipment from the <br/>locations will be auctioned off.<br/>Locations will reportedly be closed across <br/>the United States, including Denver, <br/>Indianapolis, California and New York.<br/>On May 14, Restaurant Business Magazine reported <br/>a total of 99 locations would close, representing <br/>about 15% of the company's 700 locations. .<br/>NBC reports that the largest seafood <br/>restaurant in the U.S. has struggled with debt, <br/>unfavorable leases and executive turnover.<br/>The chain's troubles also stem from ill-advised <br/>strategies like an all-you-can-eat-shrimp promotion <br/>in 2023 that resulted in a significant loss.<br/>Earlier in 2024, the chain's largest investor, <br/>Thai Union, announced that it would <br/>seek to exit its position. .<br/>The combination of Covid-19 pandemic, <br/>sustained industry headwinds, higher <br/>interest rates and rising material and <br/>labor costs have impacted Red Lobster, <br/>resulting in prolonged negative <br/>financial contributions to <br/>Thai Union and its shareholders, Thiraphong Chansiri, Thai Union Group’s CEO, via NBC.<br/>After detailed analysis, we have <br/>determined that Red Lobster’s <br/>ongoing financial requirements <br/>no longer align with our capital <br/>allocation priorities and <br/>therefore are pursuing an exit <br/>of our minority investment, Thiraphong Chansiri, Thai Union Group’s CEO, via NBC

Red Lobster Announces Nearly 100 Locations Will Be Shut Down

⏲ 1:31 👁 81.4M

It's a farming life for me!

Another Week On The Farm! 04 05 24 part 2

⏲ 23 minutes 27 seconds 👁 2.8K

Massey Dave

Bad day , good day ! MF4445 and MF 135 , and van issues 🤦‍♂️

⏲ 14 minutes 30 seconds 👁 71

The government will announce the timeline for the rationalisation of diesel subsidies when it is ready as it wants to avoid speculative inflation, says Rafizi Ramli.<br/><br/>The Economy Minister said one of the main considerations for the diesel subsidy rationalisation is the sequencing, which is key in maintaining the balance between wage growth, putting money in the public’s pockets and inflation.<br/><br/>Read more at https://tinyurl.com/bdfapjh5 <br/><br/>WATCH MORE: https://thestartv.com/c/news<br/>SUBSCRIBE: https://cutt.ly/TheStar<br/>LIKE: https://fb.com/TheStarOnline

Govt will announce timeline for diesel subsidy rationalisation when it is ready, says Rafizi

⏲ 3:18 👁 12.4M

Grayskitz

When you forget its half term

⏲ 26 seconds 👁 7.9K

Some More News

Bots, Scams, The Internet, And You - SOME MORE NEWS

⏲ 51 minutes 5 seconds 👁 108.9K

Budget airline easyJet has revealed boss Johan Lundgren will step down in 2025 after seven years at the helm as it reported improved half-year losses. The carrier said Mr Lundgren, who became chief executive in December 2017, will leave early next year and will be succeeded by chief financial officer Kenton Jarvis, who has been with the group since February 2021.

easyJet reveals CEO Johan Lundgren will step down in 2025

⏲ 1:3 👁 5.8M

Isabella Grace

7.00am REAL back to school morning routine *chatty grwm*

⏲ 9 minutes 32 seconds 👁 330K

Gohar Khan

How to Get Better Grades Without Studying More

⏲ 25 seconds 👁 2.9M

And nearly half of us start saving the cash as soon as we get back from our last trip.

Brits to spend £1,250 per person on holidays this year

⏲ 1:5 👁 11.7M

Visit Fylde Coast

Getting ready for Half Term this Week in Blackpool & Coming Back to Life!

⏲ 19 minutes 59 seconds 👁 1.7K

LilyBakes

My School HALF TERM | Vlog | Lilybakes

⏲ 10 minutes 2 seconds 👁 4.8K

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