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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 👁 115.8M

Bull

Bull - Magazine (Official Video)

⏲ 4 minutes 5 seconds 👁 2.8K

Watch Everything on TV

Bull’s Annabelle Attanasio Breathtaking Photoshoot for CBS Watch! Magazine

⏲ 1 minute 21 seconds 👁 8.2K

Two Austrian skydivers have become the first to wingsuit fly through the Tower Bridge in London.

Daredevil skydivers first to fly through London’s Tower Bridge

⏲ 1:5 👁 18M

Flatspot Magazine

Skating an abandoned airport - Red Bull Terminal Takeover

⏲ 3 minutes 58 seconds 👁 8.6K

Bull Magazine

Behind the scenes of Bull Magazine

⏲ 4 minutes 36 seconds 👁 2

Skydivers soar through Tower Bridge on wingsuit flight after 3,000ft helicopter jump from bull magazine

Skydivers soar through Tower Bridge on wingsuit flight after 3,000ft helicopter jump

⏲ 1:11 👁 9.7M

A10A

The bull magazine

⏲ 4 minutes 57 seconds 👁 9

Bull Magazine

Dancers and Mental Health - The Bull Magazine

⏲ 2 minutes 25 seconds 👁 14

Mixed results for Blacks first grade sides from bull magazine

Mixed results for Blacks first grade sides

⏲ 5:48 👁 850K

Serge Ibaka

Serge Ibaka Bay Street Bull Magazine Photo Shoot

⏲ 1 minute 1 second 👁 639

Roundup News

Behind The Print: The Bull Magazine Spring 2015 semester's First Meeting

⏲ 1 minute 55 seconds 👁 336

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