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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

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Britain’s unemployment rate has risen to its highest level for nearly a year as further cracks show in the jobs market, according to official figures. The Office for National Statistics (ONS) said the rate of UK unemployment rose to 4.3% in the three months to March, which is the highest since May to July last year and up from 4.2% in the previous three months.

Unemployment rate rises to highest level for nearly a year, figures show

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Professor Heather Austin

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Government minister Mel Stride insists that “we are seeing a resilient labour market,” despite official figures revealing that Britain’s unemployment rate has risen to its highest level for nearly a year as further cracks show in the jobs market. The Office for National Statistics said the rate of UK unemployment rose to 4.3%. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Government insist plan is working despite unemployment rise

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One of Northern Ireland’s leading publicans has completed a major renovation of The Whitefort in west Belfast and created 50 new jobs.<br/><br/>Jim Conlon has played a key role in the evolution of Belfast’s hospitality industry and operates some of the city’s most popular venues including Henrys, The Jailhouse and Whites. And now, he has announced the completion of the first phase of a multi-million pound refurbishment programme of the first bar in his extensive portfolio which he opened a decade ago.<br/><br/>The Whitefort has been completely transformed with the £1.5m investment spanning over two floors. The refreshed interior design was developed by hospitality design specialists O’Donnell O’Neill who have helped to reinvent the spaces to present an entirely new customer experience. <br/><br/>The ground floor has been opened up and now includes an extensive island bar, cocktail bar, restaurant booth seating and staging area for live entertainment. Whilst the second floor is now a contemporary sports bar with 11 pool tables, three interactive dart boards, a media wall for live sports, a premier area for private events accommodating from 10 – 200 people and further staging area. Outside boasts a new sun terrace for al fresco dining.<br/><br/>An exciting new food menu using the best of local ingredients has been created by head chef, David Donnelly. A new pouring partnership has been agreed with Molson Coors expanding the drinks offering to include Coors light, Madri, Carling, Rebel Red, Well Hazy, Punk IPA and Rekorderlig Cider.

One of Northern Ireland’s leading pubs reopens after £1.5million investment creating 50 new jobs

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