Christine Blank, a veteran freelance writer and editor, covers all aspects of the seafood industry, from fishing to processing to selling and serving the final product. When she is not writing for SeafoodSource, Christine gets to taste scrumptious seafood dishes at U.S. restaurants for her food and travel blog, Flavorful Excursions (www.flavorfulexcursions.net). Christine loves to eat seafood of any kind, but lobster, crab and crawfish are among her favorites. In addition to SeafoodSource.com and SeaFood Business, Christine’s articles have been published in hundreds of leading magazines and newspapers, such as The New York Times, USA Today and Associated Press.
Author Archive
Target, Walmart, and Amazon Fresh are the latest grocery chains in the U.S. to lower prices, after Southeastern Grocers and Giant Food announced initiatives to lower prices this spring.
Walmart said it rolled back prices on nearly 7,000 items in its stores.
"Our combination of everyday low prices, plus a large number of rollbacks, is resonating,” Walmart CEO Doug McMillon said on the company’s Q1 2024 earnings call, according to
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Red Lobster is millions of dollars in arrears with several food distributors and suppliers, but only one seafood supplier has filed a claim for owed money in the restaurant chain’s bankruptcy petition so far.
Clackamas, Oregon, U.S.A.-based Pacific Seafood has filed a claim of USD 1,938.25 (EUR 1,782) in U.S. Bankruptcy Court in Orlando, Florida, U.S.A.
Other seafood industry creditors that could follow suit include Ocean Beauty, the
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Blue Star Foods’ revenue increased 19 percent year over year to USD 2.3 million (EUR 2.1 million) in Q1 2024, but the company still posted a net loss of USD 1.1 million (EUR 1 million) in the period ending 31 March.
Blue Star CEO John Keeler blamed the quarterly loss on higher operating expenses and a loss on settlement of debt. The company’s adjusted EBITDA loss for the quarter reached USD 600,000 (EUR 553,000).
The loss still
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Thai Union is fighting back against accusations from Red Lobster CEO Jonathan Tibus that its mismanagement led to the company’s Chapter 11 bankruptcy filing on 20 May.
In court documents, Red Lobster revealed it has initiated an investigation of Thai Union’s involvement in the failure of its Ultimate Endless Shrimp promotion, as well as its “undue influence” on shrimp purchasing.
Thai Union invested millions
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Red Lobster officially entered a Chapter 11 bankruptcy filing on Monday, 20 May.
The beleaguered restaurant chain filed for bankruptcy protection in U.S. Bankruptcy Court in Orlando, Florida, U.S.A., where it is based. Red Lobster said it intends to use the process to drive operational improvements, simplify the business through a reduction in locations, and “pursue a sale of substantially all of its assets as a going concern.”
That
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Brampton, Ontario, Canada-based seafood supplier and value-added processor Toppits Foods has declared bankruptcy and owes more than CAD 20 million (USD 15 million, EUR 13.5 million) to its creditors.
Its 14 May bankruptcy filing lists 95 entities to which it owes money, including some seafood suppliers that have not been paid for their shipments. The company reported just CAD 6,000 (USD 4,400, EUR 4,000) in assets in its bankruptcy filing,
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A U.S. judge has narrowed a class-action lawsuit alleging Walmart made misleading seafood sustainability marketing claims.
U.S. District Judge Manish S. Shah granted a motion in part made by Walmart to dismiss the suit, which was filed in March 2023 in the U.S. District Court of the Northern District of Illinois.
In the suit, U.S. consumer Marissa Sanchez claimed that Walmart’s Great Value and Sam’s Choice frozen seafood products
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