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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 👁 48.4M

HUDSON VINTAGE - How To Collect And Sell It

Valentines Auction Reboot!

⏲ 1 hour 9 minutes 27 seconds 👁 1.2K

Thrifty Treasures

LIVE Valentines Auction House Preview

⏲ 23 minutes 5 seconds 👁 1.7K

Boldon Auction Galleries are set to auction off a wide selection of quirky teapots.

Boldon Auction Galleries's quirky teapot collection

⏲ 4:6 👁 30.3M

Shropshire Star

Valentine’s Day auction at Trevanion and Dean

⏲ 48 seconds 👁 6.9K

scvillalady

LADIES' VALENTINES AUCTION 2013

⏲ 3 minutes 43 seconds 👁 15

To mark the 30th anniversary of his first Formula One Drivers Championship win in 1994, eight luxury watches belonging to Michael Schumacher are going up for sale at Christie’s in Geneva.

Luxury watches owned by Formula One legend Michael Schumacher are going up for auction

⏲ 1:7 👁 7.3M

Kyle Pallo

Dining At Our Favorite Disney Springs Restaurant and Shopping With My Sister Before Our Cruise!

⏲ 20 minutes 44 seconds 👁 9.7K

Dump truck Cambodia

Firstnew project with best pushing skill bulldozer clearing land

⏲ 59 minutes 40 seconds 👁 1.9K

A man bought a $410 abandoned storage unit at auction - and found it contained $70,000 worth of designer clothes.<br/><br/>Wade Venture, 37, snapped up the storage unit at auction with little idea what it contained.<br/><br/>The treasure trove contained over 400 pairs of footwear - including brands such as Gucci and Coach.<br/><br/>Along with that, the content creator from Portland, Oregon, found $8,000 worth of fur coats and other items still with the tags on.<br/><br/>Wade, who shares his finds online @wadesventures, estimated the haul was worth around $70,000 in total.

I bought a $410 mystery storage unit - it contained $70k of designer clothes

⏲ 1:1 👁 1.4M

Manor and Maker, Chateau Adventures in France

A BIG Personal Announcement | Manor & Maker

⏲ 12 minutes 23 seconds 👁 10.1K

Buddy Brown

\"The Congregation was PACKING HEAT!\"| Buddy Brown

⏲ 5 minutes 39 seconds 👁 47.5K

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