Current:Home > ContactNew Red Lobster CEO dined as a customer before taking over: Reports -WealthRoots Academy
New Red Lobster CEO dined as a customer before taking over: Reports
View
Date:2025-04-14 18:46:02
Red Lobster is looking to rebound with a new CEO, after a year that saw a Chapter 11 bankruptcy filing and the closing of more than 100 locations. But before the chain's new CEO, Damola Adamolekun, agreed to take his role with Red Lobster's acquisition by the private equity firm Fortress Investment Group LLC, Adamolekun said he frequented Red Lobster locations around the country as a customer.
Back in May, when Red Lobster was filing for bankruptcy, Adamolekun was scouting out the seafood chain, the Wall Street Journal reported.
Sampling the crab legs, lobster tails, and Cheddar Bay biscuits, Adamolekun spoke with customers and staff about what did and did not work for the seafood restaurant chain.
The customers, Adamolekun told the Wall Street Journal, “just want more quality food in a comfortable seeting and to connect with the history of the brand. That’s the first step.”
Red Lobster exiting bankruptcy
Adamolekun, 35, was named as Red Lobster’s new CEO in August, having previously worked as the CEO and Chief Strategy Officer of P.F. Chang’s and as a partner at the New York investment firm Paulson & Co.
Red Lobster’s Chapter 11 bankruptcy filing came after the closure of dozens of locations and years of declining performance. Bankruptcy documents showed a 30% drop in guests since 2019, and outstanding debts of $294 million. That included $11 million lost due to the seafood chain’s $20 endless shrimp promotion.
That is one item that will not be coming back as Red Lobster is set to exit bankruptcy, with Adamolekun telling the Wall Street Journal, “We will never do that again in the way it was done.”
Gabe Hauri and Jonathan Limehouse contributed to this report.
Max Hauptman is a Trending Reporter for USA TODAY. He can be reached at MHauptman@gannett.com
veryGood! (16848)
Related
- This was the average Social Security benefit in 2004, and here's what it is now
- Who Is Nate Bargatze? All the Details on the Comedian Set to Host Saturday Night Live
- Watch: Bear, cub captured on doorbell camera in the middle of the night at Florida home
- Remains of at least 189 people removed from funeral home that offered green burials without embalming fluid
- Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
- Small-town Nebraska sheriff faces felony charge but prosecutors release few details about the case
- Mexico says leaders of Cuba, Venezuela, Haiti, Honduras to attend weekend migration summit
- The pope’s absolute power, and the problems it can cause, are on display in 2 Vatican trials
- Don't let hackers fool you with a 'scam
- A bloody hate crime draws rabbis, Muslims together in mourning for slain 6-year-old boy
Ranking
- Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
- Former official accused in Las Vegas journalist killing hires lawyer, gets trial date pushed back
- A man’s death is under investigation after his body was mistaken for a training dummy, police say
- A teacher showed 4th graders the 'Winnie the Pooh' slasher film: Why that's a terrible idea
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- Why John Stamos Hated Ex Rebecca Romijn During Painful Divorce
- Nolan Arenado's streak of consecutive Gold Gloves at third base ends
- Young lobsters show decline off New England, and fishermen will see new rules as a result
Recommendation
Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
Execution of Idaho’s longest-serving death row inmate delayed for sentence review hearing
Midair collision between hang glider and paraglider in Utah kills 1, injures 2 others
Robert De Niro opens up about family, says Tiffany Chen 'does the work' with infant daughter
'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
Erik Larson’s next book closely tracks the months leading up to the Civil War
Britney Spears fans revisit 'Everytime' after revelation of abortion with Justin Timberlake
5 Things podcast: The organ transplant list is huge. Can pig organs help?