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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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Spinnin' Records

Tiësto & Mike Williams - I Want You (Official Music Video)

⏲ 2 minutes 55 seconds 👁 29.1M

Spinnin' Records

Bob Sinclar & Daddy's Groove - Burning (Official Music Video)

⏲ 2 minutes 46 seconds 👁 16.3M

Archival footage of Ignatius Jones being interviewed on an episode of Sounds with Donnie Sutherland that originally aired 20th December 1980.

Shock rocker and music legend Ignatius Jones sits down with Donnie Sutherland

⏲ 0:37 👁 42.4M

A-Wax

A-Wax Ft. Analise - Come Down

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Chlöe

Chlöe - Surprise (Official Video)

⏲ 2 minutes 50 seconds 👁 14.3M

During a White House press briefing on Tuesday, Press Secretary Karine Jean-Pierre was asked about Biden’s poll numbers.<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com

‘Why Do You Think Americans Are So Down On President Biden?’: Doocy Grills KJP On Poor Polling

⏲ 4:26 👁 10M

Shakira

Shakira - Don't Bother (Official HD Video)

⏲ 4 minutes 31 seconds 👁 107.2M

Spinnin' Records

Dimitri Vegas & Like Mike vs DVBBS & Borgeous - Stampede (Official Music Video)

⏲ 3 minutes 6 seconds 👁 15.2M

Dramatic dashcam footage shows the moment a lorry driver smashed into a broken-down horsebox, killing a horse.

Lorry driver smashes into broken-down horsebox killing horse

⏲ 0:30 👁 34.7M

Fauquier ENT

Anatomical Tutorial During Trans-Nasal Endoscopy

⏲ 2 minutes 20 seconds 👁 48.4M

A-Wax

A-Wax - Lay Em Down Twice (@WaxFase Official)

⏲ 4 minutes 13 seconds 👁 1.6M

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