{"id":20735,"date":"2026-02-11T05:49:29","date_gmt":"2026-02-11T05:49:29","guid":{"rendered":"https:\/\/microvibenews.com\/?p=20735"},"modified":"2026-02-11T05:49:29","modified_gmt":"2026-02-11T05:49:29","slug":"red-lobster-ceo-says-the-seafood-chain-could-kill-more-locations-and-menu-items-to-stay-afloat","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=20735","title":{"rendered":"Red Lobster CEO says the seafood chain could kill more locations and menu items to stay afloat"},"content":{"rendered":"

<\/p>\n

Red Lobster\u2019s millennial CEO is charting a future for the beleaguered seafood chain in shallower waters: Damola Adamolekun, 37, said that shrinking the restaurant\u2019s footprint and slimming down menus will be key to the company\u2019s success.\u00a0<\/p>\n

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This comes after years of challenges for the seafood chain, which filed for bankruptcy and was forced to close dozens of restaurants to improve its bottom line. But Adamolekun, who also helped usher in a recovery for Asian-fusion chain P.F. Chang\u2019s, isn\u2019t afraid of a challenge.<\/p>\n

\u201cI think this can be the greatest comeback in the history of the restaurant industry,\u201d he told Fortune<\/em>\u2019s Ruth Umoh in a late 2025 CEO Playbook<\/em> vodcast. \u201cTo lead that would be a once-in-a-lifetime opportunity.\u201d<\/p>\n

To help achieve the turnaround Adamolekun envisions, it requires trimming the fat. The CEO told the Wall Street Journal<\/em> in an interview published Tuesday that the company is reviewing its real estate footprint and leases in order to cut costs and save the company\u2019s bottom line.<\/p>\n

\u201cThere\u2019s a lot of positive signs, but we inherited a very damaged brand, so there\u2019s still work to do to repair all of that,\u201d Adamolekun said. The bright side he\u2019s referring to is traffic to Red Lobster increased 6.5% in October, and Adamolekun told WSJ <\/em>sales are up 10% from last year.\u00a0<\/p>\n

Red Lobster\u2019s push mirrors a broader trend across U.S. casual dining, where brands like Olive Garden, Chili\u2019s, and Applebee\u2019s have pared back their menus and streamlined operations. Industry analysts say smaller footprints and simpler menus can help operators manage higher labor and seafood costs while appealing to younger, value-conscious diners.<\/p>\n

\u201cIn 2025, the most successful restaurants aren\u2019t chasing trends for the sake of it,\u201d according to hospitality industry consulting and tech firm Barmetrix. \u201cThey\u2019re solving problems with systems\u2014using automation, smarter menus, loyalty strategies, and new models that match the way guests actually want to eat.\u201d<\/p>\n

Adamolekun\u2019s turnaround efforts helped Red Lobster claw its way out of bankruptcy, but now it\u2019s time for improvement mode.\u00a0<\/p>\n

\u201cSome people refuse to set ambitious goals because they\u2019re terrified of failure,\u201d he told Fortune<\/em>\u2019s Umoh. \u201cI\u2019m not afraid of that. I don\u2019t mind setting really high goals, and I don\u2019t mind going after difficult things. You do your best and try to win.\u201d<\/p>\n

Damola <\/strong>Adamolekun<\/strong>\u2019s turnaround vision<\/strong><\/h2>\n

While Adamolekun is confident he can turn the ship around, he acknowledges that he\u2019s inherited a brand plagued by high costs and operational woes.\u00a0<\/p>\n

Similar to his comeback playbook for P.F. Chang\u2019s, Adamolekun is laser-focused on shattering inefficiencies at Red Lobster. This follows Fortress Investment Group\u2019s acquisition, which injected $60 million into revitalization efforts such as menu tweaks and restaurant refreshes. Red Lobster\u2019s fiscal outlook is already brightening under Adamolekun\u2019s leadership, with the chain projecting a positive net income of $2.1 million by fiscal 2026, marking a turnaround from years of losses.<\/p>\n

He said he\u2019d never bring back the endless-shrimp promotion, one of many factors that propelled Red Lobster into bankruptcy in the first place.\u00a0<\/p>\n

He told Today<\/em> he\u2019d never bring it back \u201cbecause I know how to do math.\u201d While the $20 endless shrimp deal made quite a splash with customers, the company reportedly suffered millions in operating losses.\u00a0<\/p>\n

To help make up for those losses, the chain must reduce costs by scrutinizing leases and streamlining operations, which could mean more locations close. Currently, the restaurant chain operates about 550 locations, down from 700 a few years ago. The company has also laid off some location managers and about 10% of its corporate staff, the WSJ <\/em>reported.\u00a0<\/p>\n

Aside from layoffs and cost-cutting, Adamolekun also plans to give Red Lobster a facelift by improving the restaurant\u2019s ambience, refreshing its menu, and remodeling its locations. He also said he wants to lower prices for customers facing an affordability crisis.<\/p>\n

\u201cWe should be the best deal for the best lobster because we do have the best product,\u201d Adamolekun told Today<\/em>.\u00a0<\/p>\n<\/div>\n

#Red #Lobster #CEO #seafood #chain #kill #locations #menu #items #stay #afloat<\/p>\n","protected":false},"excerpt":{"rendered":"

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