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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 👁 92.1M

Eater

How Steven Wong Moves 80,000 Pounds of Lobster a Week — Vendors

⏲ 17 minutes 9 seconds 👁 2.3M

Inside Edition

Could 'Endless Shrimp' Deal Cause Red Lobster's Bankruptcy?

⏲ 1 minute 43 seconds 👁 16.8K

One Fateful Night with my Boss (Complete) - Short Drama from that lobster

One Fateful Night with my Boss (Complete) - Short Drama

⏲ 1:32:56 👁 58.4M

The Young Turks

Are You Sure That’s Lobster?

⏲ 3 minutes 54 seconds 👁 53.2K

The Curious World of Alice

LOBSTER LOBSTER | How to Crack that Lobster Open (Without Seafood Cracker)

⏲ 6 minutes 1 second 👁 4.8K

Not every show deserves a second chance. Welcome to WatchMojo, and today we’re looking at the worst TV shows that inexplicably got more seasons than “Firefly,” “Freaks and Geeks,” and “My So-Called Life,” i.e. more than one.

Top 10 TV Shows That Didn't Deserve a Second Season

⏲ 10:46 👁 43.6M

Mark Wiens

The Ultimate LOBSTER ROLL Tour!! 🦞🥖 Best Lobster Shacks in Maine, USA!!

⏲ 34 minutes 51 seconds 👁 1.2M

Robby Layton

DELETD FOOTAGE: Sean & Hillbilly Work Overtime on The Pacer!

⏲ 10 minutes 31 seconds 👁 27.2K

One Fateful Night with my Boss (Complete) - Short TV

One Fateful Night with my Boss (Complete) - Short TV

⏲ 1:32:56 👁 14.8M

The Late Show with Stephen Colbert

Meanwhile… Tacos Are Sandwiches | Florida Man Steals Pokémon Cards | Attention Spans Shrinking

⏲ 6 minutes 10 seconds 👁 10.8K

Life With Lexx

Why did the chicken cross the road?! To get into MY freezer!

⏲ 29 minutes 56 seconds 👁 333

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