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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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sirmoneymoves

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Two Cents

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Police admit failings in tragic case of Leah Croucher from Milton Keynes<br/><br/>Milton Keynes prison officer who was a hero in the London Bridge terrorist attack encourages others to join the service<br/><br/>Depressing park on Milton Keynes estate is given while new lease of life in community project<br/><br/>Almost 75% of adults in Milton Keynes do not eat their five a day fruit and veg, research proves<br/><br/>\

Milton Keynes Citizen Morning Update 16 May, 2024

⏲ 2:44 👁 10.4M

The Ramsey Show Highlights

Leasing Vs Buying A Car - Dave Ramsey

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Marko - WhiteBoard Finance

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PREVIEW: Disney On Ice presents Road Trip Adventures UK tour 2024

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Tutoring Club

Advantages and Disadvantages of Leasing to the Lessee

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Gyan Post

ADVANTAGES AND DISADVANTAGES OF LEASING

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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 : \

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Oregon Cash Flow Pro

Are there advantages to leasing a car?

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Humphrey Yang

Leasing vs Buying a Car: Which is ACTUALLY Cheaper in 2024?

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