has reported that the seafood chain is closing more than 50 restaurants across the country. TAGeX Brands, a restaurant liquidator, told the news outlet that it will be auctioning off furniture and kitchen items from more than 50 locations between May 13 and May 16.
Over the years, Red Lobster has struggled with various issues, including high food and labor costs and operating losses. In January, Thai Union Group, a Red Lobster parent company, announced plans to divest from the chain. "The combination of Covid-19 pandemic, sustained industry headwinds, higher interest rates and rising material and labor costs have impacted Red Lobster, resulting in prolonged negative financial contributions to Thai Union and its shareholders," Thiraphong Chansir, Thai Union's CEO, said in acited that more people orderedBrianna is a staff writer at Eat This, Not That! She attended Ithaca College, where she graduated with a degree in Journalism and a minor in Communication...