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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 👁 75.9M

KRON 4

New COVID-19 'FLiRT' variants could mean a summer surge

⏲ 1 minute 38 seconds 👁 947

Global News

New study finds rare side effects from COVID-19 vaccine 💉 #Health #Vaccines #COVID19

⏲ 34 seconds 👁 93.8K

Langton Street Bridge connects south Bristol with the central area and is one of several bridges over the New Cut section of the River Avon that bisects the city.

A Bristol bridge closed for 18 months: Why is the banana bridge closed?

⏲ 1:0 👁 30.8M

DW News

A look back at the COVID-19 pandemic | COVID-19 Special

⏲ 26 minutes 7 seconds 👁 54.1K

Everyday Health

10 Most Common COVID-19 Symptoms Now

⏲ 42 seconds 👁 71.6K

The current EU Parliament and Commission had just begun the work of their five-year agenda when it was derailed by Covid-19 and then the Ukraine war. As the institutions' mandate enters a final phase, Real Economy gets the views of key players in Brussels on one of the EU's most difficult chapters.

From crisis to cooperation: how the EU handled the troubled 2019-2024 era

⏲ 8:0 👁 12.4M

Sky News

The shocking centre of the COVID-19 crisis

⏲ 5 minutes 19 seconds 👁 6.3M

NewsNation

COVID lawsuit: Utah mom says AstraZeneca vaccine disabled her | Cuomo

⏲ 5 minutes 11 seconds 👁 6K

#GMAIntegratedNews #KapusoStream<br/><br/><br/>Breaking news and stories from the Philippines and abroad:<br/>GMA Integrated News Portal: http://www.gmanews.tv<br/>Facebook: http://www.facebook.com/gmanews<br/>TikTok: https://www.tiktok.com/@gmanews<br/>Twitter: http://www.twitter.com/gmanews<br/>Instagram: http://www.instagram.com/gmanews<br/><br/><br/>GMA Network Kapuso programs on GMA Pinoy TV: https://gmapinoytv.com/subscribe

Oil price rollback (May 14, 2024) SEAOIL, Cleanfuel, Petro Gazz - gasoline P2\ L | diesel P0.50\ L | GMA Integrated News Bulletin

⏲ 1:31 👁 84M

Channel 4 News

How coronavirus (Covid-19) spread day by day

⏲ 11 minutes 47 seconds 👁 884.3K

ABC7

Today is the 4-year anniversary of the COVID-19 outbreak being declared a pandemic

⏲ 2 minutes 53 seconds 👁 7.1K

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