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Red Lobster

Operations

Endless Shrimp was 'final nail in the coffin' for Red Lobster, new CEO says

 By Joe Guszkowski on Oct. 04, 2024

Damola Adamolekun told the Wall Street Journal that while the promotion put the seafood chain over the edge, a history of underinvestment got it there. He plans to change that.

Financing

Two companies learn the hard way that running restaurants is difficult

 By Jonathan Maze on Sep. 06, 2024

The Bottom Line: Red Lobster and Topgolf were both acquired by companies outside the restaurant industry. Those companies have learned just how competitive the business is.

Financing

Red Lobster set to exit bankruptcy after court approval

By Joe Guszkowski on Sep. 05, 2024

A judge cleared the way for the seafood chain to be acquired by Fortress Investment Group, which has a plan to revitalize the chain.

Leadership

Red Lobster's new owner names former P.F. Chang's CEO to lead chain

By Joe Guszkowski on Aug. 26, 2024

Damola Adamolekun will take the reins of the struggling seafood giant after a sale to Fortress Investment Group is finalized. His tenure at Chang’s made him a rising star in the industry.

Financing

Red Lobster to close more struggling restaurants this week

By Joe Guszkowski on Aug. 25, 2024

The seafood chain is rejecting the leases of 23 more locations as part of its ongoing bankruptcy process.

Financing

In a small Illinois city, Red Lobster leaves a big void

By Joe Guszkowski on Aug. 02, 2024

The shuttered seafood restaurant had been a mainstay in Danville, which is working to overcome past economic challenges.

Financing

Red Lobster is set to be sold to Fortress Investment Group

By Joe Guszkowski on Jul. 23, 2024

No other buyers came forward for the seafood chain, putting the owner of Krystal, Logan's Roadhouse and other chains in line to acquire it for about $375 million.

Financing

Ignore the Red Lobster problem. Sale-leasebacks are not all that bad

By Jonathan Maze on Jul. 12, 2024

The decade-old sale-leaseback at the seafood chain has raised questions about the practice. But experts say it remains a legitimate financing option for operators when done correctly.

Financing

Red Lobster ponders best path out of bankruptcy

By Joe Guszkowski on Jul. 12, 2024

The seafood chain and its creditors are aligning behind a debt-for-equity deal that would limit disruptions and expenses.

Operations

Red Lobster's decline creates an opportunity in seafood

By Joe Guszkowski on Jun. 28, 2024

As the market leader closes restaurants across the country, innovative upstarts, steakhouses and even grocers could be in line to benefit. But can anyone unseat the king?

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