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_red-lobster-announces-nearly-100-locations-will-be-shut-down.webp "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")
_the-firm-the-firm-1994.webp "Damian Stachelski")
_over-billing.webp "Rustifer")
_the-man-with-the-x-ray-eyes-trailer.webp "The Man With the X Ray Eyes - Trailer from firm ray")
_the-firm-9234cant-stop9234-2003.webp "Skate Video Vault")
_ray39s-blues-the-firm-soundtrack.webp "Simply Great Music")
_celtic-v-rangers-debrief.webp "Mark Atkinson reports from Celtic Park after the final Old Firm derby of the season.")
_the-firm-1993-trailer-1-124-movieclips-classic-trailers.webp "Rotten Tomatoes Classic Trailers")
_the-firm-6-9-movie-clip-tricking-a-federal-agent-1993-hd.webp "Movieclips")
_elon-musk39s-firm-fails-to-tell-police-who-was-behind-wheel.webp "Speeding Tesla drivers are escaping punishment because Elon Musk’s firm has repeatedly failed to co-operate with British police over who is behind the wheel of its electric cars.")
_the-firm-124-bfi-dvd-on-bfi-blu-ray-and-dvd-23-may.webp "BFI")
_the-firm-3-9-movie-clip-no-lawyer39s-ever-left-the-firm-alive-1993-hd.webp "Movieclips")
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