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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 👁 47.1M

إقرأ يا مسلم - IQRAA YA MUSLIM

رقية شرعية | كل ليلة قبل النوم تحصين وعلاج من العين والسحر والحسد الرقية الشرعية للنوم بسهولة

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Nicktoons

SpongeBob's Best of Season 10 Marathon for 90 MINUTES! | Nickelodeon Cartoon Universe

⏲ 1 hour 34 minutes 27 seconds 👁 6.3M

Sunderland's latest financial accounts explained after £9m operating loss

Sunderland's latest financial accounts explained after £9m operating loss

⏲ 45:52 👁 50.4M

Myles Davis

ALL NEW 5 Nicktoons in a Row Promo (11 05 22) [F M]

⏲ 32 seconds 👁 32.3K

Nicktoons

30 MINUTES in Kamp Koral! 🏕 | SpongeBob | Nicktoons

⏲ 31 minutes 26 seconds 👁 750.9K

After decades in the biz, Kevin Costner's made a frenemy or two — other than his ex wife. From getting black-balled on set, to raging at his former buds, here's who thinks this award winner's just another baddie.

Celebs Who Can't Stand Kevin Costner

⏲ 5:28 👁 39.1M

Nicktoons

FULL EPISODES Of Rock Paper Scissors! 🪨📃✂️ 30 Minutes | Nicktoons

⏲ 30 minutes 35 seconds 👁 1.4M

Nicktoons

Can Alvin & The Chipmunks Keep A Secret? | ALVINNN!!! | Nickelodeon Cartoon Universe

⏲ 5 minutes 21 seconds 👁 1.7M

Burnley FC writer Matt Scrafton delivers his verdict after relegation was confirmed following the 2-1 defeat to Tottenham.

Verdict on Burnley's relegation being confirmed after Spurs defeat

⏲ 1:33 👁 94M

mcydodge919

Nicktoons \"Blob\" ID (1993)

⏲ 21 seconds 👁 315.2K

Hobo Bros

SMG4'S BEST VIDEO YET || Nickelodeon TOON TWISTER 3-D

⏲ 10 minutes 33 seconds 👁 139.3K

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