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We adhere to structured guidelines for sourcing information and linking to other resources, including medical journals and scientific studies. If you have any concerns about the accuracy or timeliness of our content, please reach out to our editors by e-mailing. But after significant financial losses in recent years, Red Lobster's owner says it has low expectations for its forthcoming sale of the seafood chain.
Thai Union Group, a Thailand-based seafood producer, led an investment group that purchased majority control of Red Lobster back in 2020. Thai Union Group President and CEO Thiraphong Chansir said in aat the time of purchase that they believed in the"tremendous long-term potential" of Red Lobster. However, the reality doesn't seem to have lived up to the company's initial expectations.Last year was particularly rough for Red Lobster and Thai Union.
"We are not happy with this decision , but I think it shows that we took the right decisions to move away and to exit from the business," CFO Ludovic Garnier said during the earnings call, perZoe Strozewski is a News Writer for Eat This, Not That! A Chicago native who now lives in New Jersey, she graduated from Kean University in 2020 with a bachelor’s degree in journalism.
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