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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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WRTV Indianapolis

Lion dies at Indianapolis zoo after attack by another lion

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euronews

USA: Indianapolis Zoo staff ‘devastated’ after lion killed by lioness

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One Fateful Night with my Boss (Complete) - Short Drama from indianapolis lion death

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

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CBS Philadelphia

Female Lions Kills Longtime Mate At Indianapolis Zoo

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CBS Colorado

Lion At Indianapolis Zoo Killed By Mother Of Its Cubs

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Knicks Dominate Pacers, Now 1 Win Away From Conference Finals from indianapolis lion death

Knicks Dominate Pacers, Now 1 Win Away From Conference Finals

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WTHR

Indy Zoo refutes post about loose lions

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WTHR

Indiana woman killed by lion

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Experts say governments across Europe need to make sure their healthcare systems and infrastructures are adapting to cope with drastic climatic change.

Heat-related deaths are on the rise in Europe as the effects of climate crisis take hold

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WISH-TV

Female lion kills father of her cubs at Indianapolis Zoo

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CNN

Arizona prosecutors can't find Rudy Giuliani. Here's where he may be

⏲ 7 minutes 42 seconds 👁 104.5K

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