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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 👁 100M

Agaram Farm Industries

Welcome to Agaram Farm Industries

⏲ 52 seconds 👁 35

Agaram Technologies

Agaram Technologies Corporate Video

⏲ 3 minutes 27 seconds 👁 237

King Charles and Queen Camilla host the Sovereign’s Garden Party at Buckingham Palace in celebration of the UK’s creative industries. The Garden Party brought together approximately 4,000 representatives across culture, art, heritage, film, TV, radio and fashion. Amongst the attendees was Love Island’s Maya Jama who spoke to His Majesty about the reality show. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

King and Queen host Sovereign’s Garden Party

⏲ 3:16 👁 32.2M

Agaram Industries

LabMill by CHOPIN Technologies, France | Agaram Industries, India

⏲ 3 minutes 31 seconds 👁 20

HYBIZTV HD

Agaram Industries | Indian Lab Expo 2022 | Distributor Of Lab Instruments

⏲ 1 minute 2 seconds 👁 43

A \

'War' on excessive sugar to be launched soon to curb rise in NCDs, says Dzulkefly

⏲ 9:33 👁 14.7M

NewsGlitz Tamil

மொத்த அரங்கையும் அழவைத்த கார்த்தியின் பேச்சு : Actor Karthi Emotional Speech | Sivakumar | Agaram

⏲ 12 minutes 25 seconds 👁 400K

Yajamana T Varadaraja Pai

Yajamana Industries Decennial Program held on 8th of April 2018.Vishnuji SPB Music Concert Part 2

⏲ 1 hour 11 minutes 26 seconds 👁 316.2K

Some of the victims of the cavity wall insulation scandal held a protest outside Parliament following the collapse of SSB Law. They then attended a lobby in Parliament with MPs and industry experts.

Cavity wall insulation scandal - protest and lobby

⏲ 1:52 👁 21.2M

பாரம்பரிய முறையில் இடிச்ச மசாலா தயாரிப்பு | agam brand | yummy vlogs

⏲ 24 minutes 45 seconds 👁 2.8K

Sathiyam News

செல்பி ஆல் வந்த விபரீதம்கூட்டத்தில் கீர்த்தி சுரேஷிடம் ரசிகர்கள் செய்த மோசமான செயல்! | SathiyamTV

⏲ 58 seconds 👁 2.7M

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