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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 👁 75.3M

Christian Marabella

Net Lease TV - Black Friday, Nov 25, 2022 at UTC Mall in La Jolla, California

⏲ 11 minutes 31 seconds 👁 107

sandiegoofficespace

UTC Office Space for Rent | Offices for Lease

⏲ 1 minute 12 seconds 👁 30

Reaction of sports director Marc Reef from Team Visma | Lease a Bike after the abandon of Cian Uijtdebroeks, 5th of the Giro and Maglia Bianca.<br/><br/>Video : @vismaleaseabike

Cycling - Giro d'Italia 2024 - Cian Uijtdebroeks fell ill and abandon the Giro : \

⏲ 1:30 👁 19M

Beautiful Townhome Close To All in UTC | FOR LEASE

⏲ 3 minutes 15 seconds 👁 29

WTVC NewsChannel 9

UTC students and parents try to break leases at Douglas Heights after 2nd shooting in 2019

⏲ 2 minutes 41 seconds 👁 83

At Wednesday's Senate Appropriations Committee hearing, Sen. Katie Britt (R-AL) questioned Interior Sec. Deb Haaland about a coal project.<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com

Katie Britt Questions Deb Haaland About 'Slow-Walking' Surrounding Coal Lease

⏲ 5:4 👁 2.4M

Lisa Brown

UTC Downtown home for lease

⏲ 1 minute 14 seconds

Tyler Cauble

Typical Commercial Lease Terms That Everyone Should Know

⏲ 6 minutes 54 seconds 👁 28.7K

On May 12, 2000, two Russian cosmonauts embarked on the 80th and final spacewalk at the Mir space station. <br/><br/>This was also the first commercially financed spacewalk. A private company called Mircorp paid to launch two cosmonauts, Sergei Zalyotin and Alexander Kalery, on the so-called \

OTD In Space – May 12: Last Spacewalk At Mir Space Station

⏲ 0:54 👁 280K

CBS 8 San Diego

Downtown San Diego residents wanting to break leases because of the homeless crisis have options

⏲ 3 minutes 27 seconds 👁 309K

WhizBang! Retail Training

Negotiating Retail Leases

⏲ 10 minutes 54 seconds 👁 6.2K

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