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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 👁 107.5M

320 Area Code (Minnesota) Social & Economic Profile

⏲ 9 minutes 18 seconds 👁 17

CBS4 Indy

Don’t answer calls from these 5 area codes

⏲ 1 minute 49 seconds 👁 6.8K

Popular national café chain Pret a manger is to open a second location in Worthing after its first branch opened in Worthing town centre last year. This one will be at the BP service station in Brighton Road.

New Pret a Manger to open in Worthing

⏲ 0:6 👁 15.8M

TAMIL ASURAN - தமிழ் அசுரன்

818 Area Code History | USA Location Area code 818 History

⏲ 2 minutes 37 seconds 👁 139

From Grotto - Topic

⏲ 3 minutes 10 seconds 👁 45

Wayfair is opening its first large-format retail store outside of Chicago on May 23rd. The move shows that some digitally native brands are turning to physical retail locations for new growth opportunities and a better customer experience. Wayfair CEO Niraj Shah said categories like furniture benefit from a physical store experience where customers can see and touch items before purchasing. Wayfair envisions opening more large stores nationwide in the future as it explores an omnichannel retail strategy. Other e-commerce brands have also launched physical stores recently to complement online sales.

Wayfair Set to Open First Large-Format Retail Store, Signaling Shift in E-Commerce Trends

⏲ 0:38 👁 3.2M

FOX 11 Los Angeles

Don't answer phone calls from these area codes

⏲ 1 minute 43 seconds 👁 2.2M

Online Mechanic Tips

Bank 1, Bank 2. Oxygen O2 Sensor Location, I show you how to locate the correct O2 sensor. P0131.

⏲ 8 minutes 55 seconds 👁 428.4K

Hear from the managers ahead of week 38, the final week of the 23-24 Premier League season, including both title contenders, Manchester City boss Pep Guardiola and Arsenal boss Mikel Arteta and from Liverpool's Jurgen Klopp ahead of his final game in charge<br/>Various Locations, UK

23-24 Premier League Preview - Final Week

⏲ 3:42 👁 2.2M

Prolific Oaktree

How to Find the Plus Code for any Location

⏲ 1 minute 58 seconds 👁 13.8K

fireman43CLC

MN Boys (320) rep the area code

⏲ 3 minutes 7 seconds 👁 284

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