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July 29, 2014
NEW YORK — Red Lobster wants to be seen as a purveyor of quality seafood, so it's getting rid of some of its promotional discounts and stacking the food higher on plates, as is the style at fancier restaurants.
The changes mark the latest attempt by the struggling seafood to stop a years-long sales decline as it embarks on a new era. On Monday, Darden Restaurants Inc. said it completed its sale of the chain to investment firm Golden Gate Capital, despite contentious protests from activist investors.
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