10 Red Lobster restaurants abruptly close after one of the chain’s 653 outlets shutters for good over failed deal ...Middle East

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10 Red Lobster restaurants abruptly close after one of the chain’s 653 outlets shutters for good over failed deal
AT LEAST 10 Red Lobster restaurants have shuttered as the company continues efforts to build back the business. The seafood chain announced in January that it was fighting to keep stores open as labor and food costs increased. GettyRed Lobster filed losses in the last three quarters and as a result has shuttered a number of its locations[/caption] GettyThe latest closure was just weeks ago in California[/caption] An earnings call last November revealed that in the third quarter, the business lost $15.3million. Despite closing eight outlets, the owner Thai Union Group has posted drops in net profit and sales for three straight quarters, including the second quarter of 2023.

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