Thai Union Group could be considering making an exit from its struggling US restaurant chain Red Lobster, following significant losses the company has suffered since buying into the franchise, according to media reports.

"Thai Union has never prolonged any bad businesses," Thai Union CEO Thiraphong Chansiri said this month, according to Bloomberg.

He noted the first half of this year will be significant to demonstrate whether recent management and operational changes at the restaurant will be enough to trim previous losses.