NEW YORK (AP) — Dozens of Red Lobster locations across the U.S. are on the chopping block.Restaurant liquidator TAGeX Brands announced this week that it would b
President Joe Biden delivers remarks at the National Peace Officers' Memorial Service in D.C.by WYATTE GRANTHAM-PHILIPS | AP Business WriterFILE - A Red Lobster restaurant is shown Sept.13, 2016, in North Miami, Fla. It was announced the week of May 13, 2024, that dozens of Red Lobster locations across the U.S. are now on the chopping block.
Maintaining stable management has also proven difficult, with the company seeing multiple ownership changes over its 56-year history. Earlier this year, Red Lobster co-owner Thai Union Group, one of the world’s largest seafood suppliers, announced its intention to exit its minority investment in the dining chain.
And then there's been the problem of endless shrimp. Last year, Red Lobster significantly expanded its iconic all-you-can-eat shrimp deal. But customer demand overwhelmed what the chain could afford, which also reportedly contributed to the millions in losses.
Tagex Brands Locations Auction Bankruptcy Shrimp Equipment Liquidation
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