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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
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YoungBoy Never Broke Again
⏲ 2 minutes 37 seconds 👁 20.4M
The LeRoys
⏲ 15 minutes 56 seconds 👁 29.8K
A look at Liverpool’s next manager in charge as the emergence of Arne Slot as the front runner to take charge at Anfield took the footballing world by surprise. The aims for the new boss are set to ensure more success at the club but the job will not be easy.
⏲ 3:0 👁 16.4M
FTY ENT
⏲ 3 minutes 13 seconds 👁 855.6K
Rotten Tomatoes Classic Trailers
⏲ 2 minutes 19 seconds 👁 120.5K
<br/>An iconic church spire in Linlithgow, West Lothian, is once again gleaming golden following successful completion of a £400k restoration project that has saved it from potential collapse.<br/><br/> <br/><br/>The Crown of Thorns spire of St Michael’s Parish Church – a unique and eye-catching piece of public sculpture, visible from both the M9 and the Edinburgh-Glasgow train line – has undergone thorough refurbishment to repair extensive rot in its structural timbers and replace the external cladding. The new cladding, a bronze alloy, returns the spire’s colour to the golden glow of the original structure when erected in 1964. This time, however, the gold is here to stay, aided by modern sealing technology designed to keep the Scottish weather at bay for decades to come.<br/><br/> <br/><br/>Retired architect Brian Lightbody, who led the project, said “From investigative surveys, we knew that the timber structure under the external cladding had been badly affected by water ingress. But the extent of the damage uncovered as all the old cladding was removed has demonstrated that the only alternative to major restoration would have been removal of the entire Crown – in itself a demanding and costly project, and a deeply unattractive prospect for funders.
⏲ 1:52 👁 23.1M
Urban Paradise
⏲ 2 minutes 36 seconds 👁 66.3K
Jessica O'Donohue
⏲ 24 minutes 23 seconds 👁 5K
Tommy Fury: Strictly bosses eyeing the boxer for the show amid split rumours with Molly-Mae from red eye
⏲ 1:13 👁 30.7M
LOL Podcast
⏲ 52 minutes 32 seconds 👁 41.4K
Sturniolo Triplets
⏲ 14 minutes 1 second 👁 112.4K
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