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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 👁 75.9M

WAM Movies Bengali

রেড - RED | Superhit South Movie Dubbed in Bangla | Ajith Kumar - Priya Gill | Blockbuster Movie

⏲ 2 hours 12 minutes 43 seconds 👁 2.2M

Disney Junior

FREEZE! | S1 E23 Part 1 | Full Episode | Spidey and his Amazing Friends | @disneyjunior

⏲ 12 minutes 49 seconds 👁 13.5M

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.

Liverpool have reached ‘Europe’s elite’ in Jurgen Klopp era: How difficult is it to replace him?

⏲ 3:0 👁 15.8M

StarPlus

इस प्यार को क्या नाम दूँ? | Arnav Helped Khushi

⏲ 11 minutes 39 seconds 👁 4.2M

Cineplex52

ইতিহাসের সবচেয়ে বড় ডাকাতি ! Money Heist (Season 1) Explained In Bangla | Crime Drama | Cineplex52

⏲ 21 minutes 42 seconds 👁 1.7M

watch here new Scarface 2 - First Trailer (2024) Al Pacino.Do follow for watching next

Scarface 2 - First Trailer (2024) Al Pacino

⏲ 1:38 👁 7.1M

SET India

CID (सीआईडी) Season 1 - Episode 255 - The Red Water Part-1 - Full Episode

⏲ 20 minutes 23 seconds 👁 79.2K

Power Rangers

Power Rangers Ninja Steel Red Ranger Story | Episodes 1 – 20

⏲ 22 minutes 51 seconds 👁 5.6M

As the curtain is closing on Jimmy Anderson’s marvellous international cricket career, following the announcement, lets take a look at what the bowler went on to achieve for his country and what legacy he leaves behind as he’s ready to say goodbye.

England cricket great Jimmy Anderson set to call time on illustrious career this summer

⏲ 1:0 👁 13.7M

Power Rangers Official

Beast Morphers - Beast Bots and Zords | Episode 2 Evox's Revenge | Power Rangers Official

⏲ 2 minutes 2 seconds 👁 6.5M

Sony AATH

Aahat - Season 1 - (Bengali) - Episode 154B

⏲ 19 minutes 4 seconds 👁 795.5K

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