Thailand-based seafood supplier Thai Union is preparing to hire an investment banker to assist it with the sale of its stake in struggling US seafood restaurant chain Red Lobster, CEO Thiraphong Chansiri told analysts during an earnings meeting earlier this week.

Chansiri made it clear the company was ready to put the failed investment behind it and move on, at one point saying, "Red lobster is over with. We are just waiting for the sale to happen. We do not expect any gain."