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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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In a surprising turn of events, US soldier Gordon Black, detained in Vladivostok, Russia, pleads guilty to theft charges. Get the latest updates on this developing story from Russia's RIA state news agencies. Stay tuned for more details. <br/> <br/> <br/>#USSoldierinRussia #USSoldier #Russia #WestRussiaTensions #RussiaUSRelations #RussiaUSTensions #VladimirPutin #JoeBiden #Oneindia<br/>~HT.99~PR.274~GR.124~ED.102~

Latest Chapter in West & Russia Tensions: American Soldier Detained in Vladivostok | Oneindia News

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Khatron Ke Khiladi 14: Abhishek Kumar to these TV Actors, Confirm Contestants List of KKK14. Watch video to know more <br/> <br/> <br/>#KKK14 #KhatronKeKhiladi14 #KKK14ConfirmContestantsList <br/>~HT.99~PR.132~

KKK14 Confirm Contestants List : Abhishek Kumar से लेकर Anupamaa Fame Aashish Mehrotra aka Toshu!

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Bollywood actress Aishwarya Rai Bachchan has arrived on the red carpet at the 77th Cannes Film Festival. She is stunning in a black-white and golden combination dress, despite having a plaster on one hand. However, some people are still finding faults in her look and started trolling her Cannes look. watch video to know more <br/> <br/> <br/>#Cannes2024 #AishwaryaRai #CannrsFilmFestival2024 #AishwaryaRaiCannes2024look <br/>~HT.99~PR.126~

Cannes 2024: Cannes में टूटे हाथ के साथ Aishwarya Rai ने दिखाया जलवा, पर फिर भी हो गई Troll!

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Emotional Fool | Apurba | Tanjin Tisha | Mabrur Rashid Bannah | Bangla New Natok 2019

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