Exit From Red Lobster brings record loss to Thai Union

PUBLISHED : 19 Feb 2024 at 17: 43 Red Lobster signs exterior a diningestablishment in Clarksville, Indiana, UnitedStates. (Bloomberg picture) Thai Union Group Plc, one of the world’s greatest seafood processors, published a record quarterly loss after composing off financialinvestment in its Red Lobster diningestablishment system. The business, which likewise manages the Chicken of the Sea brandname, reported a internet loss of 17.2 billion baht in the 4th quarter, compared with a web earnings of 1.24 billion in October-December a year earlier. Shares fell as much as 1.3% Monday on the Stock Exchange of Thailand.  Thai Union took a one-time non-cash charge of 18.4 billion baht on Red Lobster after choosing to “exit” the UnitedStates seafood diningestablishment chain, according to its exchange filing Monday. Chief Executive Officer Thiraphong Chansiri last month revealed a prepared departure from Red Lobster, restating in the newest filing that the restau
Read More.