Red Lobster CEO Damola Adamolekun Signals More Restaurant Closures Amid Brand Turnaround

Red Lobster CEO Damola Adamolekun said the company may close additional restaurant locations as it works to recover from its 2024 bankruptcy.
In an interview with the Wall Street Journal, Adamolekun cited third-party data showing improved consumer sentiment, higher visits, and a 10% increase in sales compared with last year. “There’s a lot of positive signs, but we inherited a very damaged brand, so there’s still work to do to repair all of that,” he told the publication...
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