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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 👁 112.8M

The Travel Singh

Food in Ottawa Indian food in Ottawa Curry KebabHouse Ottawa

⏲ 6 minutes 2 seconds 👁 508

Afsana Atar

Best Restaurants in Ottawa | Explore Canada with Afsana Atar | Season 01 - Episode 04

⏲ 13 minutes 39 seconds 👁 14.8K

Maison by Glaschu is the newest restaurant to open in Princes Square

Glasgow welcomes Maison by Glaschu to Princes Square

⏲ 2:0 👁 65.7M

Your Ottawa Expert

Where to eat in OTTAWA 😋 - My 4 Top Restaurants!

⏲ 3 minutes 57 seconds 👁 343

Your Ottawa Expert

Where to Eat in Ottawa 😋 - My Top 6 Restaurants

⏲ 4 minutes 18 seconds 👁 2.4K

A small restaurant in Mexico, measuring just three square metres, has been granted the first-ever Michelin star, breaking records for being the only taco shop among the 18 Mexican businesses to win the prestigious prize.

A tiny taco stand in Mexico City is the first of its kind to win a Michelin star

⏲ 1:26 👁 7.9M

Apricot Wanderers

Top 10 Restaurants to Visit in Ottawa | Canada - English

⏲ 4 minutes 24 seconds 👁 7.9K

Miss Mina

INDIAN FOOD TOUR in Seattle (Part 1)

⏲ 20 minutes 18 seconds 👁 78.7K

A baby name expert has revealed what the newly-released list of top 100 names says about parents - and why some have fallen out of favour.<br/><br/>SJ Strum, 43, is a professional baby name consultant and has given her take on thebaby name lists released today (17) by the Office for National Statistics (ONS).<br/><br/>The mum-of-three says the 2022 data shows we're going through a \

Expert says what new top baby names list says about parents - and why Harry is out

⏲ 0:57 👁 4.9M

How a Michelin Star Indian Chef Makes Chicken Curry at Home | Passport Kitchen | Epicurious

⏲ 6 minutes 27 seconds 👁 794.5K

Miss Mina

NYC STREET FOOD TOUR ft The Halal Guys

⏲ 29 minutes 47 seconds 👁 187.9K

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