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Red Lobster, after bankruptcy in 2024, is rebounding under new CEO Damola Adamolekun with renovations, menu changes, and projected profitability by 2026.
Red Lobster, which filed for bankruptcy in 2024, is recovering under 36-year-old CEO Damola Adamolekun, who previously led P.F.
Chang’s.
The chain, now operating about 500 locations, expects positive net income by fiscal 2026 and projects a 43% rise in adjusted EBITDA by 2027.
Adamolekun is investing $60 million to renovate restaurants with updated lighting, decor, and infrastructure, while streamlining the menu and eliminating unprofitable promotions.
New offerings like $20 lobster rolls and unlimited Cheddar Bay Biscuits aim to boost customer engagement and affordability, as the company works toward a major industry comeback.
Red Lobster, después de la bancarrota en 2024, se está recuperando bajo el nuevo CEO Damola Adamolekun con renovaciones, cambios en el menú y rentabilidad proyectada para el 2026.