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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

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Stephanie Kusie

Expand the RCMP investigation into GC Strategies NOW!

⏲ 1 minute 10 seconds 👁 2.5K

CP24

GC Strategies given 34 contracts worth $60 million since 2015

⏲ 3 minutes 👁 4.5K

While more Philippine universities were included in the recent world rankings, President Marcos expressed disappointment over the non-ranking of any Philippine university in the top 100 Asia University Rankings.<br/><br/>The results, he said, calls for a comprehensive strategy in order to turn the trend around.<br/><br/>READ: https://mb.com.ph/2024/5/15/marcos-dismayed-over-low-ranking-of-ph-universities-in-asia-list-says-much-work-needs-to-be-done<br/><br/>Subscribe to the Manila Bulletin Online channel! - https://www.youtube.com/TheManilaBulletin<br/><br/>Visit our website at http://mb.com.ph<br/>Facebook: https://www.facebook.com/manilabulletin <br/>Twitter: https://www.twitter.com/manila_bulletin<br/>Instagram: https://instagram.com/manilabulletin<br/>Tiktok: https://www.tiktok.com/@manilabulletin<br/><br/>#ManilaBulletinOnline<br/>#ManilaBulletin<br/>#LatestNews<br/>

Marcos dismayed over low ranking of PH universities in Asia list; says much work needs to be done

⏲ 1:17 👁 9.4M

Garnett Genuis

The \"Special Relationship\" with GC Strategies

⏲ 56 seconds 👁 1.4K

Stephanie Kusie

Who is Kristian Firth of GC Strategies??

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A \

'War' on excessive sugar to be launched soon to curb rise in NCDs, says Dzulkefly

⏲ 9:33 👁 6.5M

Global News

ArriveCAN: GC Strategies partner testifies, criticizes auditor general report

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CityNews

The GC Strategies partner who wasn't

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The Philippine government tells the United Nations Commission on Crime Prevention and Criminal Justice in Vienna, the Marcos administration’s anti-narcotics campaign resulted in a drug haul worth $587 million.<br/><br/>Full story: https://www.rappler.com/philippines/video-benhur-abalos-touts-marcos-administration-anti-drug-strategy-united-nations-may-2024/

On UN stage, DILG’s Abalos touts $587-M drug haul by Marcos gov’t

⏲ 0:45 👁 5.9M

CityNews

GC Strategies partner won't answer certain questions

⏲ 2 minutes 36 seconds 👁 2.5K

Global News

ArriveCan scandal: GC Strategies partner grilled in parliament as property raided by RCMP | FULL

⏲ 2 hours 42 seconds 👁 26K

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