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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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Financial Faiz

10 pelaburan yang sesuai di Malaysia [Investment] Nak labur di mana?

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You Will Love Economics

Macro: Unit 5.2 -- The Foreign Exchange Market

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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 👁 31.2M

华人百科 TCN:The Chinese Network

日本人到底多爱大马？这 6个原因，蝉联日本人『最爱移居国榜首』！90%人都不知道

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Brian Ariyo

Day In The Life of an Investment Banking Intern

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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

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Jason Welker

Introduction to Exchange Rates and Forex Markets

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ZFounderClub

🇲🇾 KWSP公积金 Account 3 到底在讲什么？

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Financial markets have increased the chances of an interest rate cut later this year after a jump in the unemployment rate. The rise is being put down to high migration and more people joining the workforce to look for a job.

Australia’s unemployment rate rose to 4.1% in April

⏲ 2:1 👁 11.7M

Saima Beauty u0026 Vlogs

Living Cost Rental & Daily Expenses in Malaysia

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CNBC International TV

Maybank Group Wealth Management says Malaysia is its favorite Southeast Asian market

⏲ 6 minutes 9 seconds 👁 191

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