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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 👁 45.7M

3doorsdown

3 Doors Down - Here Without You (Official Music Video)

⏲ 3 minutes 56 seconds 👁 432.4M

3doorsdown

3 Doors Down - Kryptonite (Official Video)

⏲ 3 minutes 55 seconds 👁 226.6M

Dramatic dashcam footage shows the moment a lorry driver smashed into a broken-down horsebox, killing a horse.

Lorry driver smashes into broken-down horsebox killing horse

⏲ 0:30 👁 28.3M

Music 3D

Don't Let Me Down (3D Release)

⏲ 3 minutes 40 seconds 👁 3.1M

Mike Smedley

3D Structure Scan FIRST DEEP WATER LOOK! Basic Settings 3D Down Scan Simrad Lowrance,Team OLD SCHOOL

⏲ 9 minutes 32 seconds 👁 50K

Archival footage of Ignatius Jones being interviewed on an episode of Sounds with Donnie Sutherland that originally aired 20th December 1980.

Shock rocker and music legend Ignatius Jones sits down with Donnie Sutherland

⏲ 0:37 👁 31.7M

50 Cent

Down On Me - 3D Version by Jeremih x 50 Cent | 50 Cent Music

⏲ 3 minutes 45 seconds 👁 1.7M

Fox News

Trump lawyer: They have not proven their case

⏲ 4 minutes 👁 4.6K

Friends of inspiring Sheffield mum with incurable cancer abseil down university building for St Luke’s Hospice

Friends of inspiring Sheffield mum with incurable cancer abseil down university building for St Luke’s Hospice

⏲ 1:23 👁 14.5M

Dhar Mann Bonus

GREEDY HUSBAND Misses CHILD'S BIRTH For Money | Dhar Mann Bonus!

⏲ 16 minutes 👁 247.8K

Professor Nez

🚨Donald Trump Gets HUGE WIN! Michael Cohen CRUMBLES Under Cross Examination!

⏲ 18 minutes 34 seconds 👁 72.6K

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