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Red Lobster [ edit ] In 2024 the Orlando, Florida -based seafood chain Red Lobster slipped towards bankruptcy closing 93 locations and filing for Chapter 11 bankruptcy protection on May 20, 2024, with over $1 billion in debt.
Red Lobster Hospitality, LLC is an American casual dining restaurant chain headquartered in Orlando, Florida.The company has operations across most of the United States (including Puerto Rico and Guam) and Canada, as well as in China, Ecuador, Japan, Malaysia, Mexico, Philippines, Turkey and the United Arab Emirates; as of June 23, 2020, the company had 719 locations worldwide.
Red Lobster didn’t respond to Fortune’s request for comment about the new leadership appointments or whether there would be more C-suite announcements in the near future.
Red Lobster's incoming CEO, Damola Adamolekun, said last year that he didn't have work-life balance. Adamolekun, formerly P.F. Chang's CEO, said he preferred to integrate work and his personal life.
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ADXco / ShutterstockUPDATE: May 21, 2024Editor's note: On May 19, Red Lobster confirmed it has filed for Chapter 11 bankruptcy. Nearly 580 of its restaurants will remain open through the ...
In May 2024, Red Lobster filed for Chapter 11 bankruptcy protection, announced the closure of at least 99 locations, and Thai Union issued the following statement: “After detailed analysis, we have determined that Red Lobster’s ongoing financial requirements no longer align with our capital allocation priorities and therefore are pursuing ...
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