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Red Lobster's Oldest Location Closes, CEO Seeks Turnaround
Published 1 week, 3 days ago
Description
Red Lobsters oldest location in Tallahassee, Florida, is closing after 56 years, following an $11 million loss and a new CEOs turnaround plan involving store closures. The chain has faced financial struggles, with 17 other Florida locations already shut down, and investors injecting $60 million.
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