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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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She wore the delicate diamond cross on a gold chain, which used to belong to Princess Diana, to a reception for military families in Abuja. Prince Harry recently gave the necklace to his wife as a gift, according to People magazine. It's not the first time during the non-official tour that Meghan has given a nod to her late mother-in-law. Earlier in the trip, she wore a gold collar necklace which looked similar to one Diana wore in Nigeria over 30 years ago.

Meghan pays tribute to Princess Diana by wearing sentimental gift during Nigeria visit

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The former One Direction star has admitted he's had no good matches on the dating app, because nobody believes it's really him. “It’s not been too successful for me, I’ll be honest,” he told Nylon magazine. “Everyone accused me of catfishing. They’re like, ‘What are you using Zayn Malik’s pictures for?’ I’ve been kicked off once or twice.” Zayn, who shares three-year-old daughter Kahi with Gigi Hadid, admitted he isn't too bothered though; he's enjoying being single for the moment. \

Zayn Malik reveals why he keeps getting kicked off Tinder

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The Abhi Kathachitra

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Natalie Portman has had a longstanding film career, and has become a household name from her work in franchises like Star Wars and \

Natalie Portman Admits She Gets Mistaken For Another Actress 'All The Time' And We Can Totally See It

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