Red Lobster CEO Dined at Failing Chain Before Starting Work

Red Lobster CEO got an internal tip in regards to the bankrupt restaurant chain before taking the job, revealing he ate at among the locations while he was considering the job.

Damola Adamolekun is spearheading a brand new era for the struggling seafood restaurant, but first he needed to see the place for himself. As his company, Fortress Lending Group, closes its acquisition of Red Lobster, he spoke with customers and staff about their experiences. According to the three-month enterprise It turned out to be an eye-opener for Adamolekun.

While eating, he noticed that the standard of food trusted how well it was cooked, akin to crab legs and surf and turf dishes. When he talked to other customers, they got here to the identical conclusion.

He said customers “just want quality food in a comfortable environment and they want to connect with the brand’s story. This is the first step.”

Adamolekun has noticed a loyalty amongst customers and staff to the restaurant and its dining experience. Drawing on that, the chief, who had a various childhood in Africa and Europe, believes his general expertise and boldness will breathe recent life into Red Lobster. He and his family immigrated to the United States when he was nine, and he remembers eating at the restaurant while growing up in Illinois.

“It’s about being the best at whatever you choose to do,” the Harvard Business School graduate said in an interview. “That’s my approach.”

In August, Red Lobster’s lenders appointed the previous PF Changs CEO to guide the corporate. Under Adamolekun’s leadership, which began in 2020, the Asian restaurant has improved sales to pre-pandemic levels over the course of a 12 months.

Given his proven success in revitalizing popular restaurants, the young CEO, 35, hopes to show Red Lobster around. After announcing it in May, the restaurant plans to emerge from Chapter 11 bankruptcy with a reported $300 million in debt.

According to the news agency, it plans to simplify operations contained in the restaurant while promoting cleanliness and safety without sacrificing comfort. In addition, fewer menu options and better pay could counteract high turnover rates, cushioned by Fortress’s expected $70 million investment.

However, one of the significant changes might be small but mighty. Their year-round unlimited shrimp, a move that contributed to their financial problems, might be eliminated.

Even though the general foodservice market has been in decline, Adamolekun stays committed to maintaining the brand and its signature Cheddar Bay biscuits.