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
Brand new Techish! This week, hosts Abadesi and Michael break down: Diddy gets arrested (00:10) Red Lobster’s new 35-year-old Black CEO (06:30) The job market is a mess (13:35) Is entrepreneurship too safe now? (20:00) Listen to the episode You can find the Techish podcast on Spotify, Apple, and all good podcast apps. Watch On YouTube
Red Lobster, the iconic seafood chain, has officially exited Chapter 11 bankruptcy following its acquisition by RL Investor Holdings LLC, a group backed by Fortress Investment Group. The company has named 35-year-old Damola Adamolekun as its new CEO, marking a milestone in both the restaurant’s history and the career of this rising Black business leader. New Leadership Ushers in a Fresh Chapter for Red Lobster With a new ownership structure in place and fresh leadership at the helm, Red Lobster is positioning itself for a comeback. Adamolekun, who previously served
