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_red-lobster-announces-nearly-100-locations-will-be-shut-down.webp "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")
_follyfoot-series-2-debt-of-honour-06-aug-1972.webp "nostalgickidsuktv")
_follyfoot-the-debt.webp "Forgotten Memories")
_federal-budget-2024-who-gets-what.webp "Easing the cost of living is Labor's \")
_a-debt-of-honour-australia-east-timor-war-documentary.webp "Shorty")
_follyfoot-the-prize.webp "Forgotten Memories")
_meryl-streep-was-tearfully-acclaimed-as-she-received-the-honorary-palme-d39or-award.webp "While being handed the festival’s highest honour, Meryl Streep was tearfully hailed by Juliette Binoche for changing the way the world views women.")
_follyfoot-series-2-present-for-sandy-25-jun-1972.webp "nostalgickidsuktv")
_on-the-buses-olive39s-divorce-s07e01-full-episode-stan-blakey-jack-olive.webp "Stinging Nettle")
⏲ 25 minutes 46 seconds 👁 21.5K
_king39s-college-celebrate-never-give-up-day.webp "Warrnambool King's College students held a Never Give Up day in honour Naomi Philpot on Tuesday, May 14, 2024.")
_skint-2008-debt-special.webp "cutepinbadges")
_password-1967-05-26-carol-burnett-amp-peter-lawford.webp "PASSWORD")
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