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The Latest Breaking News from Thai Union

Red Lobster lost millions on its endless shrimp disaster. Shareholders say it was a ‘car crash’ designed to squeeze profits

The lawsuit accuses former controlling shareholder Thai Union of orchestrating the ploy to boost its seafood business.

Fortune

Red Lobster’s endless shrimp deal that doomed chain was a ‘car crash’ waiting to happen: lawsuit

New lawsuit claims Red Lobster’s former majority shareholder signed contracts that made ‘no economic sense’

The Independent UK

Red Lobster is reportedly bringing back Endless Shrimp 2 years after the CEO vowed it would never return

Red Lobster is reportedly exploring a limited-time version of the Endless Shrimp promotion that could start as early as this month.

Fortune

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Red Lobster says it will soon exit bankruptcy protection after judge approves seafood chain's sale

After months of dozens of restaurant closings and headlines about “endless shrimp” woes, Red Lobster is poised to soon exit from Chapter 11 bankruptcy protection

The Independent UK

New CEO could bring Red Lobster C-Suite stability—and prevent another endless shrimp debacle

Damola Adamolekun will become the chief executive of RL Holdings LLC, which is set to acquire Red Lobster.

Fortune

Red Lobster is blaming its bankruptcy on top shareholder and its ex-CEO, saying an $11M all-you-can-eat-shrimp fiasco contributed to its demise

Former shareholder Thai Union had an "outsized influence on the company’s shrimp purchasing," Red Lobster's new CEO has alleged.

Fortune

Cost-cutting, private equity and piles of shrimp: What really drove Red Lobster into bankruptcy

The famous seafood chain lost $11m on a disastrous ‘endless shrimp’ deal. But bankruptcy documents and former employees suggest that was only a symptom of deeper problems

The Independent UK

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Red Lobster announces abrupt closures

"Furniture, fixtures and equipment from select Red Lobster locations" are starting to be auctioned off online

Salon

Red Lobster 'Bankruptcy' Scare: CFO Blames Unlimited Shrimp Deal, Pricey Labour and Leases

Red Lobster's $20 all-you-can-eat shrimp deal backfired, leading to bankruptcy talks after record losses.

International Business Times UK

Red Lobster's shrimp deal too popular

The longstanding deal invited customers to enjoy all the shrimp they craved for just $20

Salon

Red Lobster will start serving ‘endless shrimp’ every day

Red Lobster revealed Monday its “Ultimate Endless Shrimp” promotion is now “here to stay,” following earlier comments from a major shareholder that the seafood chain needed to create a new menu with more value for customers.

Orlando Sentinel

Thai Union sees sales picking up

Thai Union Group (TU), one of the world’s largest seafood processors, says it is seeing signs of a sales recovery after a first-quarter dip.

Bangkok Post

Canned-tuna giant Thai Union may exit Red Lobster chain

Thai Union Group Public Company Limited, one of the world’s biggest makers of canned tuna, is considering an exit from its loss-making Red Lobster unit less than three years after boosting its stake in the United States restaurant chain.

Bangkok Post

Now you can catch Red Lobster seafood at grocery stores

Shoppers can check out the latest thing from Red Lobster in the grocery aisles of Walmart.

Orlando Sentinel

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Bangkok Post

Thai Union posts 10.3% revenue growth to B155.6bn for 2022

Thai Union Group reported full-year 2022 revenue growth of 10.3% to a record high of 155.6 billion baht, driven by petcare and seafood.

Bangkok Post

Trends in food

Food has never gone out of fashion, in good times or during economic downturns. And in Thailand where food is the centre of our culture, our pride and joy, the culinary dynamism is always remarkable.

Birmingham Post

Biotech firm which extracts collagen from jellyfish secures multi-million pound investment

Cardiff firm Jellagen has closed an £8.7m Series A equity investment round

Bangkok Post

Thai Union to go ahead with B6bn investment

Thai Union Group Plc, a global leading seafood company, has repledged its intention to invest 6 billion baht to expand its business over the coming year, despite the ongoing global economic challenges, including runaway inflation and rising interest rates.

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Bangkok Post

Thai Union sales surge in second quarter

SET-listed seafood company Thai Union Group reported record revenue in the second quarter of 2022, thanks to the strength of its core businesses and product popularity among global consumers.

Bangkok Post

Thai Union leads in innovative finance

Following its recent Blue Finance deal, Thai Union continues to innovate its financial dealings in-house

Orlando Sentinel

‘Very, very, very bad’: Red Lobster CEO Kelli Valade resigns after only 8 months

Red Lobster CEO Kelli Valade is resigning after just eight months at the helm of the Orlando-based seafood chain, a quick departure that one industry analyst called “very, very, very bad.”

Bangkok Post

Thai Union sets goal for 5% revenue increase in 2022

SET-listed Thai Union Group, a global seafood company, wants to grow its revenues by at least 5% this year while maintaining an average gross margin of 20% through 2025.

Bangkok Post

Thai Union launches biodiversity scheme

Seafood producer Thai Union Group has teamed up with the Sustainable Fisheries Partnership (SFP) to further improve transparency in the company's supply chains and consider wider impacts on biodiversity.

Bangkok Post

“Blue Finance” by Thai Union: Delectable Seafood with Sustainability

Established in 1977, Thai Union Group PCL began as a canned seafood manufacturer in Mahachai, Samut Sakorn. Today, Thai Union is a global seafood leader and one of the world’s largest canned tuna manufacturers, as seen by its $4.2 billion in revenue in 2020 and its 40,000-strong workforce committed to…

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