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Small Business Funding

Red Lobster is closing another 23 restaurants. Heres where they are [Video]

Roughly two dozen more Red Lobster locations are scheduled to close within the coming days as part of the seafood restaurant chains ongoing bankruptcy proceedings.A recent court filing shows that the company is rejecting the leases of an additional 23 locations by Saturday, joining the more than 100 restaurants that Red Lobster closed earlier this summer. Once complete, the chain will have around 500 outlets left a sharp decline from the 650 it had just last year.Red Lobster is in the process of selling itself to Fortress Credit Corp., a lender experienced in restaurant management that also owns Krystal, Logans Roadhouse and J. Alexanders. The firm recently gave the seafood chain a $100 million loan to allow it stay afloat.On Monday, Fortress announced that it will install the former chief executive of P.F. Changs, Damola Adamolekun, as Red Lobsters new CEO once the chain exits bankruptcy proceedings. Adamolekun left the Chinese food restaurant chain in August 2023 following a four-year stint.Mismanagement, competition, inflation and other factors brought down Red Lobster, which has been a pioneer in the restaurant industry. Thai Union, a global seafood supplier, became Red Lobsters leading shareholder in 2020 and filed for bankruptcy four years later in May.Under Thai Unions leadership, Red Lobsters culture turned toxic, former leaders told CNN. Red Lobster cut costs, removed longtime suppliers and implemented strategies that backfired, such as making $20 endless shrimp a permanent menu item. The chain lost $11 million on the endless shrimp deal.The new list of restaurants leases identified to be closed are likely to continue to drive losses and the company does not anticipate needing in order to operate their business going forward and can be rejected, the filing said.Here are the locations Red Lobster plans to close:Arizona-1521 S. Yuma Palms Pkwy., YumaArkansas-8407 W. Markham St., Little RockCalifornia-8703 Murray Drive, La MesaColorado-4925 N. Academy Blvd., Colorado SpringsFlorida-326 Miracle Strip Pkwy., Fort Walton Beach-5110 N. 9th Ave., Pensacola-8909 U.S. Highway 19, Port RicheyGeorgia-6550 Tara Blvd., JonesboroIllinois-1604 N. State Road 50, Bourbonnais-902 Commons Drive, Geneva-4625 N. Sterling Ave., PeoriaIndiana-4353 Franklin St., Michigan CityMinnesota-8900 Golden Valley Road, Golden Valley-12515 Elm Creek Blvd. North, Maple GroveMissouri-2381 Maplewood Commons Drive, MaplewoodNew York-925 Hunts Point Ave., Bronx-750 Upper Glen St., QueensburyNorth Carolina-304 A Western Blvd., JacksonvilleOhio-17227 Southpark Center, StrongsvilleSouth Carolina-1270 Knox Abbott Drive, CayceVirginia-555 S. Van Dorn St., Alexandria-4415 S. Laburnum Ave., Richmond-709 Independence Blvd., Virginia Beach

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Small Business Lifestyle

Greer, SC, officials celebrate church for 155 years of service [Video]

St. Mark United Methodist Church is celebrating 155 years. The anniversary theme this year focuses on its legacy. “This church has a rich history in this community. Starting off under amp Harbor bush,” said Carlton McClam, senior pastor.The city of Greer council declared a proclamation congratulating St. Mark’s Church on its 155th anniversary. “We have been blessed to serve this community and been blessed in this edifice that we’re now in,” said McClam. “This is definitely a recognition well deserved,” said Karuiam Booker, Greer City Council District 2.The church is five years older than the city of Greer itself. “Our theme this year is ‘pursuing legacy,’ so we’re still actively writing our story for those who are coming behind us,” said McClam. “We’re just excited about what God is doing and what God has done.”McClam gave credit to the leaders who came before him.”With their tenacity and their faith, they have made it possible for us to have such a good foundation to build on for the future,” said McClam.Their outreach goes beyond the four walls of the sanctuary. “The level of impact they’ve had goes from feeding the homeless, being in the community,” said Booker.Officials wish St. Mark many more years of making an impact. “I just appreciate them allowing me to be a part of today. And congratulations on 155 years and look forward to 155 more,” said Booker. St. Mark United Methodist Church was established back in 1869. McClam says the church has plans to expand its ministry and facility.