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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 👁 111M
The Amazing Lucas
Bleach Blonde Bad Built Butch Body
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The Auto Observer
Top 10 Best Used Trucks Under $15,000 in 2023
⏲ 21 minutes 19 seconds 👁 72.7K
Liberty vs. Fever: Bet Caitlin Clark Over 3.5 Made Three-Pointers from craigslist york cars
Liberty vs. Fever: Bet Caitlin Clark Over 3.5 Made Three-Pointers
⏲ 0:46 👁 15.8M
KMOV St. Louis
St. Charles County man buys car, discovers odometer wrong by 100,000 miles
⏲ 5 minutes 9 seconds 👁 64.3K
Chevy Dude
Buying Cars on FaceBook MarketPlace. You won't believe this!
⏲ 8 minutes 45 seconds 👁 89.6K
Yorkshire Air Museum marks eighty years since two squadrons of French personnel took over the running of the heavy bomber base, in the run-up to D-Day.<br/>Elvington was the only RAF base staffed entirely by foreign personnel and became know as ‘la petite France’.<br/>With weeks of the flag-raising the French crews would be in action, flying Halifax bombers to strike a German gun battery at Grandcamp Maisy in Normandy on the very eve of D-Day.<br/>Today saw a flag raising ceremony similar to the one held 80 years ago.
French Flag Raising at Yorkshire Air Museum
⏲ 0:41 👁 20.2M
Automotive Anonymous
The Truck Market Finally COLLAPSED. And Buyers are DONE Overpaying!
⏲ 23 minutes 👁 167.1K
Mark Roden
The 11 Final Cars Left For Less Than $1,000!
⏲ 11 minutes 37 seconds 👁 46.4K
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OnlyFans model flashes Dublin-New York portal leading to temporary shutdown
⏲ 0:50 👁 22.7M
SUV Battle
TOP Used Cars Under $1000 Equal To 1 iPhone SUV Battle
⏲ 9 minutes 13 seconds 👁 36.1K
Memories Of American Cars
20 Magnificent Classic Cars Under $10,000 Available on Craigslist Marketplace! Perfect Cars!
⏲ 53 minutes 59 seconds 👁 7.5K
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