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.
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Bentonville, Arkansas, U.S.A.-based retail giant Walmart is facing another class-action pricing suit, just months after it paid USD 45 million (EUR 41.6 million) to settle a class-action lawsuit over improperly weighted products – including seafood offerings.
Yoram Khan, the plaintiff in the case, has alleged that the company’s actual prices are 10 percent to 15 percent higher than what is posted on its shelves.
Kahn
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After closing more than 100 locations following the announcement of its bankruptcy, restaurant chain Red Lobster is hoping it can successfully negotiate leases on several additional locations that are on the chopping block.
At a creditor meeting held on 28 June, Red Lobster CEO Jonathan Tibus said the chain will close several additional restaurants because negotiations with landlords on the locations’ leases fell through.
Red Lobster,
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American restaurant chains are banking on lobster, oysters, and shrimp to attract customers this summer and turn around low foot traffic numbers.
Restaurant visits are down 2.5 percent year over year as of the end of May, according to Chicago, Illinois, U.S.A.-based data firm Circana, and more restaurants are focusing on value, promotions, and special menus to draw in diners.
One such restaurant introducing a special menu is Addison, Texas,
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Red Lobster has declared its total liabilities at around USD 692 million (EUR 646 million) in the most recent filing in its Chapter 11 bankruptcy proceeding.
At a 21 June hearing, Red Lobster Management, Red Lobster Sourcing LLC, Red Lobster Restaurants LLC, and Red Lobster Hospitality LLC said USD 412 million (EUR 385 million) is owed to unsecured creditors.
The four companies’ total assets are USD 575.5 million (EUR 537 million),
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