Exit From Red Lobster Restaurant Brings Record Loss to Thai Seafood Giant - Bloomberg

Thai Union Group Pcl, one of the world's biggest seafood processors, posted a record quarterly loss after writing off investment in its Red Lobster restaurant unit.

The company, which also controls the Chicken of the Sea brand, reported a net lossBloomberg Terminal of 17.2 billion baht ($479 million) in the fourth quarter, compared with a net profit of 1.24 billion in October-December a year earlier. Shares fell as much as 1.3% Monday on the Stock Exchange of Thailand.

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