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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 👁 116.3M

Island Soul Films

Locals Restaurant

⏲ 39 seconds 👁 118

Island Living Comox Valley Real estate

Comox Valley British Columbia, the place to be.

⏲ 53 seconds 👁 268

#DineAroundCV is an annual celebration of

Chef Jon of Atlas Cafe talks about #DineAroundCV and #localfood at Atlas Cafe, Courtenay

⏲ 5 min 75 sec ✓ 21-Feb-2013

Travelling Foodie

BC Seafood Festival in Comox Valley - Western Canada's Largest Seafood Festival | Travelling Foodie

⏲ 2 minutes 22 seconds 👁 143

Home A Roam

Things to do in Courtenay, BC. TIPS from a LOCAL.

⏲ 8 minutes 32 seconds 👁 4.3K

Chef Elliott Grover shows us his favourite hotdogs at Bubbledogs, a pop up running throughout the summer at 45 Park Lane.

Bubbledogs: London’s ‘best’ hot dogs and champagne at 45 Park Lane

⏲ 3:0 👁 6.3M

Coastal Aerial Solutions

Welcome to the Comox Valley!

⏲ 1 minute 6 seconds 👁 1.9K

Comox Valley Campbell River Real Estate eXp Realty

Welcome to the COMOX VALLEY on Vancouver Island British Columbia

⏲ 5 minutes 55 seconds 👁 10.4K

Popular national café chain Pret a manger is to open a second location in Worthing after its first branch opened in Worthing town centre last year. This one will be at the BP service station in Brighton Road.

New Pret a Manger to open in Worthing

⏲ 0:6 👁 20.6M

Justin Crawford Comox Valley Real Estate Agent

Comox Valley Pros and Cons

⏲ 3 minutes 24 seconds 👁 1.2K

Simply The Best Luisa Marshall Show

Creating Lifestyles – Living in Comox Valley, Filipino Food at Kumare Restaurant – Delta

⏲ 24 minutes 31 seconds 👁 437

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