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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 👁 116.2M

BernerBrotherAntiques

Which Would YOU PICK? Antique Life

⏲ 19 minutes 46 seconds 👁 1.6K

BernerBrotherAntiques

First Time Ever: That's BIG NEWS

⏲ 13 minutes 12 seconds 👁 1.6K

Spitbank Fort and No Man's Fort in the Solent are both going up for auction with Savills next month.

Solent Forts for Sale

⏲ 0:38 👁 30.3M

BernerBrotherAntiques

EXTRAVAGANZA: What is IT?

⏲ 30 minutes 55 seconds 👁 1.3K

BernerBrotherAntiques

Yard Sale FINDS: Great Silver

⏲ 17 minutes 34 seconds 👁 1.9K

AN ASTON Martin that was found in ‘barn find’ condition has been renovated - and is now worth nearly $500,000. Nigel Woodward, the Managing Director at Classic Motorcars in Bridgnorth, UK bought the Aston Martin DB Mark III at an auction in 2015. Nigel told FutureStudiosCars: “So the car bought at an auction for way over its estimate at the time, which was between $37,000-$49,000, and actually sold for a little over $120,000.\

1950s Aston Martin Restored To $500,000 Masterpiece

⏲ 3:28 👁 1.4M

BernerBrotherAntiques

Berner's Auction Highlights and Antique Talk

⏲ 13 minutes 44 seconds 👁 908

Dark Matter Digital

The New Berner's Auction

⏲ 1 minute 43 seconds 👁 15

MEASURING in at just 100cm tall - and 99cm wide - the Peel P50 is reported the world’s smallest car to ever go into production. The three-wheeled microcar was originally made from 1962 to 1965 by the Peel Engineering Company and was listed in the 2010 Guinness World Records as the smallest production car ever made, with a weight of just 59 kilograms. Of the 50 P50s ever produced, only 27 are still known to exist today. Canadian, Greg, is one of the owners of these rare cars, and he told Future Studios Cars: “The P50 came out of the Isle of Man, basically the concept was a little car that you can use in the city”. With its DKW 49cc engine, the P50 has a top speed of 37mph and 4.2 horsepower. “It’s a one-seater with one headlight - I also love how it has three wheels, the back wheel is the one that is driving it with a chain from a little moped engine,” Greg said. With its uniquely small size, the P50 is not the most practical car to use. “There’s no reverse because you have to get out of the car and go around to the reversing handle, pick up the car and turn it around then get back in,” explained Greg. Although this is undoubtedly a small car, it has a big history. Greg said: “There was a Russian freighter that came into the port of Vancouver, they used it to drive around their huge freighter on the deck but then the refrigerator broke so when they came back, they traded this car in on a refrigerator”. Today, these cars are incredibly difficult to come by and are incredibly expensive - in 2016, a P50 was sold at auction for over $176,000.

Peel P50 - The World's Smallest Car

⏲ 6:49 👁 710K

BernerBrotherAntiques

PAPAW Auctions LIVE

⏲ 15 minutes 41 seconds 👁 1.3K

Curiosity Incorporated

Searching estate sale jewelry boxes and more! what will we find today?!

⏲ 24 minutes 39 seconds 👁 7.1K

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