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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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Last month in an interview with Billboard, Billie Eilish opened up about all the ways she and her team are incorporating sustainability into the music industry. While discussing the use of recycled vinyl, Eilish expressed frustration with major artists releasing multiple vinyl variants to boost sales, calling it \

Billie Eilish Fans Accuse Taylor Swift of Trying to Block ‘Hit Me Hard and Soft’

⏲ 1:8 👁 7.4M

Abdu Rozik expressed his pain after getting Trolled for his Wedding, Says- I'm Small, I Can't Marry?Recently, He revealed that he is gonna marry an Emirati girl very soon, later shared Engagement Photos. Watch video to know more <br/> <br/>#AbduRozik #AbduRozikWedding #AbduRozikWife #WhoIsAbduWife<br/>~PR.132~

Abdu Rozik की होने वाली Wife और शादी का उड़ा मजाक, Trolling से परेशान अब्दू ने दर्द किया बयां! #Video

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Scotsman Deputy Editor Alan Young talks about early prisoner release due to jail overcrowding with Political Correspondent Rachel Amery.

The Scotsman Bulletin Friday May 17 2024

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Everton have endured an indifferent season this time around, but their future after remaining in the Premier League certainly looks interesting as their agreed deal with the 777 partners is starting to fade away, they’ll be hoping more positive news can emerge about a new takeover.

Everton’s 777 takeover deal: What’s the latest as the worrying wait continues for the Toffees

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NFL Opener: Ravens vs Chiefs, Eagles in Brazil & More from new mass photos

NFL Opener: Ravens vs Chiefs, Eagles in Brazil & More

⏲ 0:57 👁 12.5M

My Sibling's Romance - Episode 12 (English Sub)

My Sibling's Romance - Episode 12 (English Sub)

⏲ 2:22:53 👁 7M

NBA Playoffs: Knicks vs Pacers Game 6 Possbile Elimination Clash from new mass photos

NBA Playoffs: Knicks vs Pacers Game 6 Possbile Elimination Clash

⏲ 0:54 👁 5.8M

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