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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

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Marion County Literacy Council

Thank You Insight Credit Union

⏲ 1 minute 21 seconds 👁 27

Marion County Literacy Council

Insight Credit Union Kiss the Horse sponsors - location

⏲ 51 seconds 👁 4

Mining giant Anglo American has decided to spin off its Queensland coal mines, following the rejection of a takeover bid from rival BHP. The company asserts that there is significant interest from potential buyers. However, amidst these developments, the Mining and Energy Union is seeking assurances to protect the workers and the communities affected by these operations. State Political Reporter Kate McKenna will provide more details on the situation.

Anglo American to sell its five Queensland coal mines after rejecting BHP takeover bid

⏲ 1:43 👁 27.2M

Practical Personal Finance

Credit Unions: The Best Kept Secret in Banking

⏲ 7 minutes 25 seconds 👁 45.8K

Marvin and Gloria Smith

Bad Credit OK:Signature Credit Union Has Secrets Your Bank Doesnt Want you to Know

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Apple has released iOS 17.5 for iPhones and iPadOS 17.5 for iPads. It’s a massive deal for those in Europe, but UK users also get a healthy selection of new features.The biggest news of iOS 17.5 is it brings support for iPhone apps downloaded direct from developer websites, but only for people in the European Union.

iOS 17.5 released: what are its new features for iPhone and iPad?

⏲ 0:45 👁 42.4M

CBS TEXAS

Dallas Congresswoman Jasmine Crockett accuses Marjorie Taylor Greene of 'race-baiting'

⏲ 3 minutes 2 seconds 👁 2.8K

MSNBC

'Beyond unbecoming': Justice Alito puts up a insurrectionist symbol to pick a fight with neighbor

⏲ 10 minutes 12 seconds 👁 14.5K

The so-called \

EU urges Georgia's government to stick with democratic path to EU membership

⏲ 1:58 👁 9.2M

HomefulTV

Turning Nightmares into Dreams | Holmes Inspection S113+114

⏲ 1 hour 28 minutes 2 seconds 👁 4.9K

Win with Wendoly

2 NEW CONSTRUCTION HOMES BOTH UNDER $300K | Ocala, Florida

⏲ 20 minutes 47 seconds 👁 6.2K

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