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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 👁 79.1M

NBC News

Trump's hush money trial impacting voters in battleground state Michigan

⏲ 2 minutes 21 seconds 👁 2.8K

Inside Edition

Ohio Judge Forced to Resign for Being Out of Order in His Own Courtroom

⏲ 1 minute 46 seconds 👁 2.7M

The Young Wife Movie (2024) Trailer - Plot Synopsis:On her wedding day, all that stands between a young woman (Kiersey Clemons, DOPE) and marital bliss with her soon-to-be husband (singer/songwriter Leon Bridges) is surviving the chaos and expectations of family and friends, each intensifying her spiraling panic in the film critics are calling “intimate, profound, and visually gorgeous” (Screen Rant).<br/><br/>Available to Buy on Digital May 31, 2024 <br/><br/>Featuring: Kiersey Clemons, Leon Bridges, Kelly Marie Tran, Michaela Watkins with Sheryl Lee Ralph, and Judith Light

The Young Wife Movie (2024) - Kiersey Clemons, Leon Bridges

⏲ 1:57 👁 18.6M

AZFamily | Arizona News

Scottsdale prosecutor awarded $5+ million for being wrongfully fired

⏲ 2 minutes 26 seconds 👁 158

Flippin' Bats with Ben Verlander

Name That MLB Pitcher ⚾️ No. 6 #mlb #baseball

⏲ 12 seconds 👁 3.7K

Losing 300lbs Left Me With Extreme Saggy Skin | BRAND NEW ME

⏲ 8:26 👁 50.9M

ESPN

Aaron Judge was SPEECHLESS when he was named captain of the New York Yankees 👏 | SportsCenter

⏲ 7 minutes 👁 17.9K

Associated Press

Veteran judge named as arbiter in Trump FBI probe

⏲ 2 minutes 15 seconds 👁 11.8K

Illegal gold miners terrorize South African communities<br/><br/>Dotted across South Africa's Johannesburg region, thousands of abandoned gold mines attract illegal mining activity, with criminal gang violence often spilling into nearby communities. Zamimpilo, just west of Johannesburg, sits atop an old deposit and residents of the informal settlement say they can't be sure they will \

Illegal gold miners terrorize South African communities

⏲ 2:58 👁 10.3M

Eyewitness News ABC7NY

Judge rules to release names of Rep. George Santos bond cosigners

⏲ 35 seconds 👁 23.4K

MLB Network

Aaron Judge on Being Named 16th Yankees Captain

⏲ 1 minute 29 seconds 👁 5.3K

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