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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 👁 111.7M

Hammad Hamid

Destiny 2 - Ascendant Challenge Location and guide - 14 May, 2024

⏲ 4 minutes 56 seconds 👁 1.8K

Time Sausages Gaming Channel

Keep Of Honed Edges Ascendant Challenge! Ahamkara Bones! Corrupted Eggs!

⏲ 17 minutes 39 seconds 👁 1.9K

Joe Buck reacts to Newcastle United's draw with Brighton at St James' Park. An early Joel Veltman goal was cancelled out by Sean Longstaff's strike just before the break. Eddie Howe's side are still in control of their own destiny in the quest to qualify for Europe as they head to Old Trafford on Wednesday night.

Newcastle United 1 - 1 Brighton: Joe Buck match reaction

⏲ 5:42 👁 290.7M

Ebontis

Destiny 2 - Rivens Wishes 2 - Wish Token - Ascendant Chest Locations - Dreaming City Week 1

⏲ 15 minutes 3 seconds 👁 35.8K

IamFrostyyy

Destiny 2 | Ascendant Challenge Keep of Honed Edges Guide & Location

⏲ 6 minutes 17 seconds 👁 3.8K

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 👁 17.1M

Spade ♤

Elsie's Rifle is Getting a MAJOR Buff in PVE

⏲ 5 minutes 1 second 👁 739

Astrology Loka {Gina Lyhane }

Learn Vedic Astrology. Basics 2. THE HOUSES

⏲ 32 minutes 37 seconds 👁 951

Hear from the managers ahead of week 38, the final week of the 23-24 Premier League season, including both title contenders, Manchester City boss Pep Guardiola and Arsenal boss Mikel Arteta and from Liverpool's Jurgen Klopp ahead of his final game in charge<br/>Various Locations, UK

23-24 Premier League Preview - Final Week

⏲ 3:42 👁 4.1M

Llama

You've Probably NEVER Tried This

⏲ 7 minutes 5 seconds 👁 18.7K

Kachow D2

Pantheon Week 3 Full Completion (Rhulk Indomitable) | Destiny 2 Into the Light

⏲ 43 minutes 59 seconds 👁 1.2K

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