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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 👁 116.3M

Have a gift

Choose your Birthday month and see your dress👗🤗🤗|Have a gift| #gifts #chooseyourfav #choose #dresses

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BagOnly

bbno$, Low G & Anh Phan - pho real (Lyrics)

⏲ 2 minutes 47 seconds 👁 133.9K

Financial expert Robyn Denning fro Raisin UK discusses the latest interest rate decision by then central bank.

The Bank of England holds interest rates: what it means for savers and borrowers

⏲ 1:0 👁 31.8M

Not Enough Nelsons

MY DAUGHTERS FIRST and LAST HIGH SCHOOL PROM!! *GONE WRONG*

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Raina Huang

UNDEFEATED 9LB PHO CHALLENGE at Cilantro Noodle in Charlotte, NC!!! #RainaisCrazy

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A 6.4% gain in U.S. home prices. This according to the latest S&P CoreLogic Case-Shiller Home Price Index. This and mortgage rates soaring at 7.09%, although down from 7.22% may have some homebuyers discouraged.Veuer's Elizabeth Keatinge has more.

Real Estate Prices are Rising

⏲ 1:10 👁 33.5M

Phúc Mập Vlog

This is why the Vietnamese go to Houston, Texas 🇺🇸

⏲ 13 minutes 38 seconds 👁 28.4K

emily p

How to make Vietnamese Beef Pho noodles recipe - Cach nau pho bo

⏲ 34 minutes 👁 389.1K

The Producer Price Index, which measures wholesale prices, rose 0.5% in April, more than the expected increase of 0.3%. Core PPI, which excludes volatile food and energy prices, also increased by 0.5% compared to an estimated 0.2%. On a yearly basis, wholesale inflation rose over 2% in April, the biggest gain in a year. Services prices drove much of the wholesale inflation, and portfolio management costs increased sharply. Energy prices rose led by a jump in gasoline costs, while food prices declined. Hotter-than-expected inflation raises doubts about the Fed's ability to cut rates soon to achieve its 2% target.

Hotter-than-Expected Prices Raise Rate Cut Doubts as Prices Rise Over 2% in April

⏲ 0:41 👁 1.2M

The Culinary Institute of America

How to make Vietnamese Pho Bo

⏲ 23 minutes 36 seconds 👁 2.6M

Live Love Thailand

6 Things Will kick You Out of THAILAND | Check Before You Arrive To The Airport #livelovethailand

⏲ 12 minutes 51 seconds 👁 290.7K

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