Bangkok Post – Thai Union to book a multimillion-dollar charge for exiting Red Lobster

Thai Union Group Public Company Limited, one of the world’s biggest makers of canned tuna, will take a roughly US$530 million charge as it plans to exit unprofitable unit Red Lobster.

Thai Union will book the one-time impairment charge in its fourth-quarter earnings after deciding to exit the seafood restaurant chain in the United States, Chief Executive Officer Thiraphong Chansiri said. Red Lobster’s ongoing…