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flag Red Lobster, after bankruptcy in 2024, is rebounding under new CEO Damola Adamolekun with renovations, menu changes, and projected profitability by 2026.

flag Red Lobster, which filed for bankruptcy in 2024, is recovering under 36-year-old CEO Damola Adamolekun, who previously led P.F. flag Chang’s. flag The chain, now operating about 500 locations, expects positive net income by fiscal 2026 and projects a 43% rise in adjusted EBITDA by 2027. flag Adamolekun is investing $60 million to renovate restaurants with updated lighting, decor, and infrastructure, while streamlining the menu and eliminating unprofitable promotions. flag 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.

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