Red Lobster Announces, Nearly 100 Locations , Will Be Shut Down.
NBC reports that approximately 99 Red Lobster locations
will be auctioned off as the seafood chain faces
questions regarding the company's long-term future.
Founder and CEO of the liquidation firm TAGeX Brands,
Neal Sherman, said he would lead the closure of over
50 locations in a May 13 LinkedIn post.
Sherman said equipment from the
locations will be auctioned off.
Locations will reportedly be closed across
the United States, including Denver,
Indianapolis, California and New York.
On May 14, Restaurant Business Magazine reported
a total of 99 locations would close, representing
about 15% of the company's 700 locations. .
NBC reports that the largest seafood
restaurant in the U.S. has struggled with debt,
unfavorable leases and executive turnover.
The chain's troubles also stem from ill-advised
strategies like an all-you-can-eat-shrimp promotion
in 2023 that resulted in a significant loss.
Earlier in 2024, the chain's largest investor,
Thai Union, announced that it would
seek to exit its position. .
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 Chansiri, Thai Union Groupās CEO, via NBC.
After detailed analysis, we have
determined that Red Lobsterās
ongoing financial requirements
no longer align with our capital
allocation priorities and
therefore are pursuing an exit
of our minority investment, Thiraphong Chansiri, Thai Union Groupās CEO, via NBC
Credit: Wibbitz Top Stories Duration: 01:31Published
Harry and Meghanās Archewell , Delinquent Over Unpaid Fees.
The Duke and Duchess of Sussex's charity is currently prohibited from raising money in California because it's
been found delinquent in the state, NBC News reports. .
California Attorney General Rob Bonta was responsible for issuing the delinquency notice. .
According to the state of California,
Archewell has yet to pay its yearly
registration fees or submit an annual report.
A source familiar with the situation said that the foundation's check was lost in the mail, but another one has been sent out. .
The issue will likely be resolved in a
matter of days, according to the source.
Meanwhile, Harry and Meghan have been in Nigeria supporting causes such as wounded veterans.
Meanwhile, Harry and Meghan have been in Nigeria supporting causes such as wounded veterans.
The Archewell Foundation was launched in 2020 after the couple stepped away from the royal family.
The foundation's mission is, "Show up, do good.".
We consciously partner with
key organizations and leaders
to identify immediate needs,
build meaningful initiatives,
and drive long-term change, Via the Archewell Foundation's website
Credit: Wibbitz Top Stories Duration: 01:31Published
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Happy Birthday,
Stevie Wonder!.
Stevland Hardaway Morris, also
known as Stevie Wonder, was born
on May 13, 1950, and turns 70.
He was born in Saginaw, Michigan.
Blind since birth, he later signed with
Motownās Tamla label at 11 years old.
Wonder released his debut album, 'The Jazz Soul of Little Stevie,'Ā in 1962 when he was 12 years old.
His discography includes his hit singles, "Signed, Sealed, Delivered I'm Yours," "Superstition" and more.
The Grammy-winning artist is one
the best-selling musicians.
Wonder also campaigned to make Martin Luther King Jr.ās birthday a U.S. holiday in 1980.
Wonder was named a United Nations Messenger of Peace in 2009.
and one of 'Billboardās' Hot 100
All-Time Top Artists.
Happy Birthday,
Stevie Wonder!
Credit: Wibbitz Top Stories Duration: 01:01Published
This Day in History: , Dr. Martin Luther King Jr. Is Assassinated.
April 4, 1968.
King was shot and killed
as he stood on the second-floor balcony
of the Lorraine Motel in Memphis, TN.
The āapostle of nonviolenceā
had gone to Memphis in support
of a sanitation workers' strike.
Widely recognized as the most prominent
face of the American Civil Rights Movement,
Dr. King was just 39 years old.
In a prophetic speech the night before his murder,
King stated that, āIāve seen the promised land.
I may not get there with you.".
Petty criminal James Earl Ray was arrested
two months later and eventually
pleaded guilty to King's assassination.
After being sentenced to 99 years in prison,
Ray recanted his confession. Questions of a
conspiracy to assassinate Dr. King continue to linger.
King's death sparked riots in
more than 100 American cities.
On April 9, tens of thousands of mourners
lined the streets of Atlanta to pay their respects
on the day King was laid to rest
Credit: Wibbitz Top Stories Duration: 01:07Published
Remembering Maya Angelou.
Marguerite Annie Johnson was born on
April 4, 1928, and died on May 28, 2014.
Here are five
facts in honor
of the poet.
1. Angelou was the second poet
in history to read a poem at a
presidential inauguration.
2. She worked with both
Martin Luther King Jr. and Malcolm X.
3. She was named Wake Forest University's first Reynolds Professor of American Studies in 1982.
4. Angelou was the
first Black woman to
conduct a streetcar
in San Francisco.
5. Prior to becoming
a poet, she was in an
opera, āPorgy and Bess,ā
and a journalist.
Happy Birthday,
Maya Angelou!
Credit: Wibbitz Top Stories Duration: 00:52Published
This Day in History:, Selma to Montgomery March Begins.
March 21, 1965.
Led by Dr. Martin Luther King Jr., between 3,000 and
8,000 marchers crossed the Edmund Pettus Bridge
out of Selma on their way to Montgomery.
Over the next five days, they were protected by thousands
of federalized Alabama National Guardsmen and soldiers.
Their numbers would swell to around 25,000.
At the state capitol, King would give his
famous "How Long, Not Long" speech.
The march came just days
after the passage of the civil
rights legislation known as
the Voting Rights Act.
The passage of the legislation followed two
unsuccessful attempts at the march which ended
in violence between police and the peaceful protestors.
President Lyndon Johnson cited the violence,
which had been broadcast on national television,
as a turning point in American history.
How long? Not long, because the arc of the moral universe is long, but it bends toward justice, Rev. Dr. Martin Luther King Jr
Credit: Wibbitz Top Stories Duration: 01:08Published
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