Seafood restaurant chain Red Lobster is making a comeback under the leadership of CEO Damola Adamolekun. The 36-year-old, who took the helm as Red Lobster emerged from Chapter 11 bankruptcy last year, is leaning on two simple strategies: listen to customers and make the restaurants worth returning to. Red Lobster’s bankruptcy Founded in 1968, Red Lobster filed for Chapter 11 bankruptcy in May 2024, closing more than 100 of its nearly 650 restaurants. Decades of rising labor and lease costs were compounded by the infamous endless shrimp fiasco, which turned
FTX seeks to reverse payments made to Shaquille O’Neal, Naomi Osaka, Stephen Curry, and other celebrity athletes who promoted the crypto exchange before it filed for bankruptcy. FTX’s collapse Sam Bankman-Fried started FTX in 2019 as a digital currency exchange platform that lets people buy and trade cryptocurrency. Customers began opening accounts on FTX to trade and buy cryptocurrency, and top venture capital investors began pouring into it. According to Tech Target, by January 2022, the company was worth $32 billion. However, that ended in November 2022 when an accounting
