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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 👁 111.1M

Celebrity Tonight

Coronavirus: Linda Lusardi and husband Sam Kane hospitalised after falling 'very ill'

⏲ 2 minutes 30 seconds 👁 51

Viral Trends

Coronavirus: Linda Lusardi tests positive as husband says she's fighting for her life

⏲ 45 seconds 👁 26

Locals in a Devon town who are unwell with symptoms of a waterborne disease said they started feeling ill more than a week ago – but were only told to stop drinking their tap water today. from linda lusardi ill

Locals in a Devon town who are unwell with symptoms of a waterborne disease said they started feeling ill more than a week ago – but were only told to stop drinking their tap water today.

⏲ 3:45 👁 19M

Edutainment Edutainment

Linda Lusardi Clip (from Gameshow) (1988) BETAMAX

⏲ 56 seconds 👁 3.4K

Celebrity Tonight

Dancing On Ice's Linda Lusardi 'extremely ill' after contracting coronavirus

⏲ 2 minutes 56 seconds 👁 15

Reaction of sports director Marc Reef from Team Visma | Lease a Bike after the abandon of Cian Uijtdebroeks, 5th of the Giro and Maglia Bianca.<br/><br/>Video : @vismaleaseabike

Cycling - Giro d'Italia 2024 - Cian Uijtdebroeks fell ill and abandon the Giro : \

⏲ 1:30 👁 23.3M

NOW Toronto

Linda Lusardi claims coronavirus is man-made as she speaks on illness 'It's not normal'

⏲ 4 minutes 28 seconds 👁 12

Celebrity News

Linda Lusardi ‘has never felt this ill’ as she addresses coronavirus symptoms

⏲ 2 minutes 31 seconds 👁 6

The Killing Of A Sacred Deer is a 2017 absurdist psychological horror thriller film directed and co-produced by Yorgos Lanthimos, who also co-wrote the screenplay with Efthimis Filippou. It stars Colin Farrell, Nicole Kidman, Barry Keoghan, Raffey Cassidy, Sunny Suljic, Alicia Silverstone, and Bill Camp. It follows a cardiac surgeon who introduces his family to a teenage boy with a connection to his past, after which they mysteriously begin to fall ill.

The Killing of a Sacred Deer (2017)

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Loose Women

Linda Lusardi Describes Finding A Tumour In Her Womb | Loose Women

⏲ 7 minutes 1 second 👁 11.3K

Dancing On Ice star Linda Lusardi ‘extremely ill with coronavirus’

⏲ 2 minutes 21 seconds 👁 7

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