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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")
_14-best-things-to-do-in-denver-colorado-by-a-local.webp "Travel Lemming")
_denver-colorado-cool-things-to-do-destinations-explained.webp "Venture Addicts")
_timberwolves-struggle-against-nuggets39-dominant-djokic.webp "Timberwolves Struggle Against Nuggets' Dominant Djokic from denver colorado")
_top-10-day-trips-amp-hikes-fr0m-denver-colorado.webp "Kevin Eassa")
_denver-weekend-travel-guide-124-plan-a-trip-to-denver-colorado.webp "Dave Chung")
_pacers-lose-to-knicks-nuggets-face-t-wolves-tonight.webp "Pacers Lose to Knicks, Nuggets Face T Wolves Tonight from denver colorado")
_denver-4k-hdr-driving-downtown-colorado-usa.webp "J Utah")
_top-10-best-things-to-do-in-downtown-denver-colorado-downtown-denver-guide-2023.webp "Vacation Idea")
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_nuggets-capitalize-on-jokic39s-stellar-performance-124-nba-analysis.webp "Nuggets Capitalize on Jokic's Stellar Performance | NBA Analysis from denver colorado")
_colorado-is-the-third-most-dangerous-state-in-country-us-news-ranking.webp "FOX31 Denver")
_best-day-trips-fr0m-denver-12-epic-destinations-amp-road-trips-for-one-day-traveling-near-denver.webp "Hashtag Colorado Life")
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