On September 5, 2024, the U.S. Bankruptcy Court approved Red Lobster's bankruptcy plan, paving the way for its acquisition by RL Investor Holdings LLC, marking a significant shift for the chain.
Damola Adamolekun, who previously drove P.F. Chang's to $1 billion in annual revenue, is now tasked with revitalizing Red Lobster, a company with 545 locations across North America.
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