Red Lobster, under the leadership of its new CEO Damola Adamolekun, has begun a revival after its exit from Chapter 11 bankruptcy in September 2024. Adamolekun, the company’s youngest chief executive, aims to enhance the restaurant experience by updating the menu, improving service, and enhancing values through affordability. Key initiatives include bringing back popular menu items like hush puppies and introducing happy-hour specials. With a $60 million investment plan after bankruptcy, Adamolekun believes that Red Lobster is entering a promising new chapter.
Under Adamolekun's leadership, Red Lobster emerged from Chapter 11 bankruptcy four months after filing in May 2024.
"Red Lobster is now a stronger, more resilient company, and today is the start of a new chapter in our history," Adamolekun said.
Adamolekun revamped the menu, bringing back popular items and introducing happy-hour specials to enhance value for customers.
He told "The Breakfast Club" that part of his mission as CEO was to offer new menu items at a more affordable price point.
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